Gordon Hill, formerly of risk consultancy Richard Oliver, is to head the new risk division set up by global broker Willis that is intended to rival the dominance of risk management services provided by the big five accountancy firms.

Willis' move follows the recent Turnbull Report which laid out guidelines and principles on corporate governance and raised the profile of risk management in the boardroom.

Willis intends to become a serious player in the business risk market, and has pooled its risk management resources into one division, Willis Business Risk Practice, in a bid to offer plcs a holistic service.

A spokesman said Willis is looking to quickly expand its 60-strong risk team.

Richard Oliver is a subsidiary of Willis.