Willis Capital Markets & Advisory (WCMA) is to open a Sydney office as part of its Asia-Pacific expansion.

MD John Philipsz will relocate from London to establish the operation.

The office will complement the Willis Group subsidiary’s presence in Hong Kong, led by Asia head Michael Guo.

“The new WCMA platform will reinforce our activities across Asia, which is a high-growth region for both investment banking and insurance,” CEO Tony Ursano said.

“John has been fundamental to the success of WCMA from London and will continue that success from Sydney.”

Mr Philipsz joined WCMA in 2010 from Bank of America in London, where he was a director in the financial institutions group.

He has experience in insurance mergers and acquisitions. He has also worked in the financial institutions group at Noble & Company in London and Merrill Lynch in New York and Tokyo.

WCMA works in capital markets transactions and advisory, including insurance-linked securities such as catastrophe bonds, collateralised reinsurance arrangements, mergers and acquisitions and other investment banking-related services.

“Our presence in Sydney will further strengthen our client coverage in Asia and enhance our position in capturing both domestic as well as cross-border opportunities in insurance investment banking,” a Willis spokesman told insuranceNEWS.com.au. 

Australia is a very important market for insurance and investment banking, because it has a vibrant insurance market and is closely linked with Europe, US, and the rest of Asia through active trade and capital flows, the spokesman said.