Howden appoints Mahan Bolourchi as Regional Head of Financial Risks for the Middle East
17 March 2016
Howden, part of Hyperion, the world’s largest employee-owned insurance group, has appointed Mahan Bolourchi to establish its Financial Risks business in the Middle East. He will be based in Howden’s Dubai office and will introduce Trade Credit, Structured Credit, Political Risk and Surety solutions to new and existing clients.
Bolourchi joins Howden from Euler Hermes where he worked for over 15 years, most recently overseeing operations in the Middle East as CEO for GCC (Gulf Cooperation Council). He will assume the role of Regional Head of Financial Risks, Middle East in April 2016.
David Howden, CEO of Hyperion, commented: “The Middle East has seen significant and sustained growth for a number of years and planned major events and infrastructure projects are constantly generating the need for further investment. This investment needs to be structured, insured and financed. Our 50-strong team in Dubai already offers specialist solutions to businesses involved in large construction and infrastructure projects whose ability to trade relies on access to funding. The addition of Financial Risks products will complete the full-service offering to those clients.”
Arvind Kashyapa, CEO of Howden Dubai added: “I look forward to welcoming Mahan, whose experience in Financial Risks, combined with his expert knowledge of the local market, will add considerable value by enabling us to respond to client demand for high quality broking services in a market where robust Financial Risks products will be integral to future growth.”
Bolourchi said: “Increasing investments in infrastructure and the diversification from oil towards trade export have triggered the development of new financing options, which mean that buyers in the Middle East now have greater choice than ever. The introduction of Financial Risks products to Howden Dubai’s portfolio adds considerable value to existing clients, whilst Howden Dubai’s strong reputation in the Middle East provides the ideal platform from which to launch a Financial Risks offering to the wider market.”
Gert Schloßmacher, Global Head of Trade Credit, commented: “There is huge potential for tailor-made trade credit, political risk and structured credit, and surety solutions in the Middle East. Mahan’s significant experience in selling Financial Risks products in this region make him ideally placed to meet the needs of both new and existing Howden clients.”
There is huge potential for tailor-made trade credit, political risk and structured credit, and surety solutions in the Middle East. Mahan’s significant experience in selling Financial Risks products in this region make him ideally placed to meet the needs of both new and existing Howden clients.
- Gert Schloßmacher, Global Head of Trade Credit