Credit and political risk insurance broker Texel Group has named William Shaw as deputy CEO, a newly created role.

Shaw leaves his role as managing director for Texel Asia and is replaced by Angela Chang, previously a broker in the firm’s Singapore office. Both appointments are made with immediate effect.

Shaw relocates to London after moving to Singapore 12 years ago to establish Texel’s presence in the region. Prior to this, he spent three years in the US and was one of the broker’s first employees when it launched in the UK.

Chang has nearly two decades of financial services and banking experience and joined Texel in 2022.

She previously worked in the aviation finance and syndications teams at MUFG and DVB Bank, having begun her career with Deutsche Bank in 2006, where she held multiple roles, including within credit structuring.

Shaw has played a “key pivotal role” in the growth and development of Texel, says Andy Lennard, CEO and chairman of Texel.

“As part of Texel’s continued organic succession planning, it is vital that the future of the group must be led by those that understand, embrace and execute Texel’s unique culture. William fits the bill given his longevity and experience in multiple roles, coupled with the respect of his senior colleagues.”

Last month, Texel also hired Jonathan Crossfield as its first chief financial officer, based in London.

Crossfield previously worked as CFO at fraud and risk technology firm Featurespace for five years. He began his career as a chartered accountant with Deloitte & Touche before holding analyst roles at Cazenove and Bank of America Merrill Lynch, as well as COO roles for Wonder PL and Vox Markets.