Watertrace launch risk and compliance division
The London insurance management consultancy Watertrace has launched a Risk & Compliance Division.
Watertrace said the new division aims to create effective and sustainable control environments specific to client circumstances in order to meet FSA requirements and genuinely add value.
Watertrace will be looking to provide tailored solutions reflecting the unique businesses of each client.
The company said a key market for the division will be the travel industry who are looking to address the impending regulation of travel insurance in 2009.
It said that the FSA requirement for management of Client Money forms the basis of another key service the division will be offering, namely - Client Money Management, Diagnostics and Resource.
The division will be headed by Bobby Deegan and Theunis Viljoen.
Deegan has over 18 years London Market experience and was previously group compliance director at Jardine Lloyd Thompson Group and before that director of compliance at Aon.
Theunis has worked in the industry for over 20 years and was previously financial director of European distribution at Primary Group and prior to that finance director at Alexander Forbes International.
Mike Barr, managing director of Watertrace, said of the launch: "In establishing a Risk and Compliance Division with Bobby and Theunis we are adding real focus to our service to regulated firms. Both are experienced practitioners and are very well known in the market. Together with our team of consultants who have considerable London market and General insurance expertise. Watertrace offers effective solutions to compliance and regulatory issues.
"What is very pleasing is the positive response from clients. Across all of our services we have been able to offer a competitive service and flexible approach. Our clients consistently find us an effective alternative to the larger more broadly based consultancies."
The company also seperately announced that it has appointed Anthea Shaw as a senior management consultant.
Shaw has previously worked for Xchanging and Lloyd's .She will have responsibility at Watertrace for delivering major business change programmes.
