Mr Willman's move follows the departure of Jean Eaglesham who has been appointed chief political correspondent at the Financial Times.
In his new role, which commenced this week, Mr Willman will be responsible for the FT's industrial reporters and regional correspondents based within the UK and Ireland.
Commenting on his new position, Mr Willman said: "The Financial Times and FT.com have an unrivalled reputation for business coverage that makes them an essential source of information for decision-makers around the world.
"I and my new team are determined to strengthen that reputation further as the pace of change accelerates and the burdens imposed on business by government increase."
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