Exporters, a leading provider of international trade credit insurance, has appointed Paul McGonagle, a 22-year veteran of international banking and risk management, as president and chief executive officer.

Previously, McGonagle served as head of international credit at Bank One in Chicago.  His responsibilities included the oversight and evaluation of customer risk ratings, the assessment of country risk and a leading role in making risk/return decisions in the portfolio management context.

McGonagle helped formulate and oversee the implementation of key personnel and strategy changes that significantly improved the risk profile and return characteristics of Bank One’s international activity.

Earlier at Bank One, McGonagle held a number of senior international management positions, including Korea country manager, regional manager for Southeast Asia, based in Singapore, and head of country risk.

In Korea and Southeast Asia, he directed the bank’s overall marketing, risk management and operations activities. McGonagle served as a member of Exporters “board of directors on two different occasions for a total of six years in conjunction with equity investments held in Exporters by First Chicago Bancorp and Bank One.

McGonagle began his career as a diplomat in the US Foreign Service serving in Washington DC, France and Canada.  As director of monetary affairs at the Department of State, McGonagle was the US government representative to the Paris Club, the forum in which foreign country debt to the US and other governments is restructured.

Exporters is a group captive of manufacturers, trading companies and financial institutions with the common objective of managing commercial credit and political risks in its global operations through the subsidiary insurance companies.

Exporters Insurance Company is domiciled and licensed in Bermuda and has surplus lines authority in numerous US states. Exporters Insurance Company (Europe) is a licensed insurer in the United Kingdom with European Union ‘passport “approval in 13 other countries.

The companies issue policies of insurance to members, their designees, and other eligible insureds. Exporters offers a broad range of export credit and political risk coverages, and its ultimate value lies in the ability to quickly tailor its products to the unique requirements of its members and clients.