Euler Hermes is pleased to announce that Bora Akyildiz is appointed Regional Head of Surety and Guarantee for Asia Pacific, a role previously held by Stéphane Fauré. Mr Akyildiz will be based in Hong Kong.

Before coming to Asia Pacific, Mr Akyildiz was the Regional Surety and Guarantee Manager for Euler Hermes MMEA, managing surety and guarantee operations in the Mediterranean countries, Middle East and Africa. Prior to that, he was the Head of Surety and Guarantee for Euler Hermes Middle East. Mr Akyildiz first joined Euler Hermes Turkey in 2014 as the Head of Surety and Guarantee, bringing in his experience in risk and client management from his earlier days at corporate banking.

Mr Fauré will re-join Euler Hermes France and take up the position of Managing Director of Euler Hermes SFAC Direct Agency, which distributes all Euler Hermes products.

Holger Schaefer, Regional CEO of Euler Hermes Asia Pacific, says, “I am very pleased with the addition of Bora to our regional surety team, who is an experienced underwriter in the surety business and has proven track record in driving the business successfully in other regions. Stéphane has built and managed our surety and guarantee business the right way during his time with us and as a result, brought a significant contribution to our regional growth. I thank him sincerely and wishing him all the best as he goes on to take up an important role back in Paris.” 

Sean McGroarty, Euler Hermes Global Head of Surety and Guarantee, adds, “Bora’s experience and international exposure accumulated over the years made him the perfect candidate to lead our Asia Pacific arm of the business. Asia Pacific’s surety and guarantee business has grown robustly under Stéphane’s leadership in recent years. Although the      Covid-19 crisis is leading to a very thorough underwriting process, we still see the opportunity to grow our portfolio further.”

On his new role, Mr Akyildiz says, “I cannot be more excited to be joining the Asia Pacific team, one of the most dynamic and fastest growing regions within the Euler Hermes Group. I am particularly grateful for the solid foundation laid by Stéphane and the team. I look forward to leading the Asia Pacific surety team to new heights and further developing the surety market across the region, while at the same time complementing to our product diversification strategy.”

Many businesses use surety bonds and guarantees to support and cover the contractual obligations they have entered into with customers, suppliers and partners. These financial solutions are flexible and can be adjusted for use on major projects or in different trade sectors. Our extensive global network and corporate strength stand behind our surety bonds and guarantees. The expert teams at Euler Hermes can provide advice and guidance on the use of surety bonds and guarantees in various markets around the world so that your decisions can be made with full understanding.