WeatherBill Expands Team with Leading Weather Derivatives Expert; Opens Office in United Kingdom |
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By: WeatherBill, Inc. Posted: 2008-05-13 02:34:22 |
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WeatherBill (http://www.weatherbill.com) today announced that Jens Boening, a weather risk management industry leader, has been appointed as Managing Director, Europe and Asia for the company. Boening will be based out of WeatherBill's new United Kingdom branch office, and will be positioned to better serve the needs of WeatherBill's rapidly growing European and Asian client base of weather-sensitive companies. Boening will report directly to WeatherBill's CEO and Founder David Friedberg.
"Jens is a well recognized weather derivatives expert and we're excited to be offering our European clients a direct WeatherBill contact in the UK," says Friedberg. "A recognized leader in the weather market, Jens brings valuable risk management structuring experience and industry insight to our team. We are looking forward to working with him as he utilizes and expands our innovative platform for simple automated weather coverage." Prior to joining WeatherBill, Boening was responsible for Merrill Lynch's weather origination and structuring activities for Europe, Middle East, Africa, Asia and Pacific Rim. He has more than a decade of experience in commodities and weather markets, having provided risk management solutions to energy corporations, industrial clients, financial institutions and investors. Boening has also developed Merrill Lynch's Continental European and Scandinavian power trading businesses, and is an active member of the Board of Directors of the Weather Risk Management Association. Boening will be responsible for WeatherBill's sales and marketing activities throughout Europe and Asia, and will be assisting companies large and small in creating custom weather coverage to protect profits from the impact of bad weather. "WeatherBill has overcome two of the major shortcomings in making weather derivatives accessible to companies," says Boening. "First, WeatherBill has made a product that is highly customizable and easy to understand, enabling companies to price and purchase weather coverage that better suits their needs. Second, WeatherBill has made weather coverage absolutely transparent and easily accessible through its unique technology and free-of-charge online platform. This will help take the weather market as a whole to another level. I am excited to join WeatherBill and work with existing and new clients in Europe and Asia to help them better manage the financial impact of adverse weather." WeatherBill, Inc. (http://www.weatherbill.com) provides the only online service that allows businesses to protect revenue and control costs from the impact of bad weather. Founded by CEO David Friedberg and CTO Siraj Khaliq, former members of the Google team, WeatherBill is funded by New Enterprise Associates, Index Ventures, and Allen & Company and is backed by Nephila Capital, one of the world's largest weather risk and catastrophe reinsurance fund managers. |
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