Willis Hires BCG’s Guo in Asia Investment-Banking Push

Willis Group Holdings Plc (WSH), the third-largest insurance broker, hired Michael Guo as head of Asia in the capital-markets operation as the company seeks more investment-banking business.

He will be based in Hong Kong and report to Tony Ursano, chief executive officer of Willis Capital Markets & Advisory, the London-based company said today in a statement. Guo joins from Boston Consulting Group Inc. where he was a partner and managing director of the financial-services practice, covering insurance, banking, brokerage and fund management.

The hire “underscores our commitment to becoming a major player in the insurance investment-banking arena in Asia,” Ursano said in the statement. Guo’s experience will be “invaluable as we continue to expand our strategic advisory and capital markets offerings on a global basis.”

The capital-markets unit advises insurers and reinsurers on mergers and acquisitions. It also underwrites insurance-linked securities such as catastrophe bonds, which pay higher-than-benchmark yields to investors who risk losing their principal in the event of disasters that meet predefined conditions.

Willis slipped 0.8 percent to $41.36 at 11:02 a.m. in New York. The broker has climbed 23 percent this year, beating the 13 percent advance in the 78-company Bloomberg World Insurance Index.

To contact the reporter on this story: Zachary Tracer in New York at ztracer@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.