Insurance broker Willis has announced the appointment of Bill Froggatt to lead its political and trade credit risks practice in Melbourne, Australia.
Having joined Willis on June 2, Froggatt will report to Stuart Ashworth in the financial solutions Asia Pacific operation, which is headquartered in Singapore.
Froggatt had retired on October 31, 2013 as head of trade finance in the northern hemisphere for Westpac. In early November, he moved to Melbourne, Australia, after 10 years in the UK.
Commenting to GTR about what attracted him to come out of retirement, Froggatt explains: “I had no initial plans at that point in time to re-enter the work force. Stuart Ashworth contacted me when he visited Melbourne in March and we had a coffee. Stuart outlined the Financial Solutions Business within Willis and their desire to add the business stream to the existing Willis model in Australia. What Stuart outlined was interesting and we continued the discussion over the next few weeks.
“Willis approached me given my background, experience and the contacts and knowledge of the Australian marketplace for banks/lenders and corporates.”
He has also held a number of senior positions within the banking sector, including head of trade finance (Emea) for Mizuho, global head of commodity trade and transaction services for ANZ, and director of commodity and trade finance at Société Générale.
Commenting on his appointment, Froggatt tells GTR: “I am excited and honoured to be joining the Willis Group and in particular the financial solutions team in Australia. Financial services companies in Australia are looking for new risk management solutions to support their businesses. With best in class analytical capabilities and a peerless global network, Willis is ideally placed to help them succeed.”
“Bill’s experience with financial institutions represents a significant opportunity for the Willis Group and I am delighted to welcome him to the team. We have long held the view that the Australian financial market has not been as well served in the political and credit risk insurance arena as it could be, a situation which we are now able to remedy. Willis’s presence worldwide and our deep industry specific insights ideally position us to offer a seamless and truly global service to the global and regional banking community,” says Paul Davidson, CEO of Willis Financial Solutions.
Froggatt adds: “The role is a new business start-up, which will take time, but there is a lot of “low hanging fruit ” that could prove rewarding for Willis in the short term. The opportunity is exciting and I look forward with great energy in working for the Willis Financial Solutions team.”