Economy
Paddy Wills joins Catlin |
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| Economy | |
| Written by Paul Williams | |
| Monday, 23 March 2009 | |
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Insurance giant Catlin Group Limited (LON:CGL), has today announced that Patrick Wills is to join Catlin on as Deputy Chief Investment Officer. Wills is to be based in Catlins London office and joins the group after Preben Prebensen, who had held that position since 2007, resigned in February to become Chief Executive Officer of Close Brothers Bank (LON:CBG). At Catlin Wills will work alongside Nylesh Shah, who also holds the title of Deputy Chief Investment Officer, responsible for managing cash and investments of nearly US$7 billion. The group will be seeking to bounce back after a torrid time on the money markets as of late. Catlin Group had previously reported a net loss for the year ended December 31, 2008, hurt by investment and foreign exchange losses, amid the volatility in global equity investment markets. Paddy Wills backgroundWills joins Catlin from Montier Partners LLP in London, a firm that provides advice relating to hedge fund portfolios. As a Partner at Montier his responsibilities included portfolio construction, risk management and hedging. Previously he held a variety of senior positions at Deutsche Bank, HSBC, Bear Stearns International and BNP Paribas. Before beginning his investment career, he worked at Catlin from 1987-88 as an underwriting assistant. Stephen Catlin, Chief Executive of Catlin Group plc, said: I am delighted to welcome Paddy Wills on his return to Catlin. The events of 2008 have underscored the importance of investment management to insurers and reinsurers. Paddy has wide experience with some of the worlds major financial institutions, and the combined talents of Nylesh and Paddy will provide Catlin with a strong and multi-skilled investment management team. Patrick Wills said: I am pleased to be rejoining Catlin, albeit in a much different role than the one I left 20 years ago. Catlin has grown spectacularly during the past two decades, and I am looking forward to working at such a well-respected company. |
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