ICAP announces management changes in Energy Global Broking
London and Louisville, 27 May 2014 – ICAP plc (IAP.L), a leading markets operator and provider of post trade risk and information services, announces today that Paul Newman, Managing Director of ICAP Energy, will take on a new role as Chairman of ICAP Energy, effective 1 July.
After 24 years at ICAP, having established the company’s energy business, Paul will be stepping down from his executive responsibilities as the head of EMEA Energy and Commodities. In his new role, he will leverage his experience and his internal and external relationships to advance ICAP’s customer proposition across other asset classes in Global Broking to extend product coverage into non-banking clients. He will report to David Casterton, CEO of Global Broking, and work closely with the regional energy management teams.
Dennis Crum, who remains Chief Executive Officer of ICAP Energy US, will take on executive responsibility for ICAP Energy globally. Graham Francis will take over day to day executive responsibility for EMEA Energy and Commodities.
David Casterton, CEO, Global Broking, said: “Our energy and commodities business has been at the forefront of delivering excellent client service for many years. It has become the recognised leader in its asset class, which is a testament to the leadership and diligence of the team. I look forward to working with Paul, Dennis and Graham as we continue to grow the business in the future.”
Serra Balls ICAP Communications UK +44 20 7050 7103
Guy Taylor ICAP Communications US +1 212 341 9759
About ICAP Energy
ICAP Energy, a subsidiary of ICAP plc, is an innovative leader in the energy and shipping industries, providing full-service and over-the-counter broking and advisory capabilities to a broad spectrum of businesses throughout the world.
The group has approximately 350 staff located in London, North America, Singapore, Sydney, Geneva, Bergen, Amsterdam, Madrid, Copenhagen and Sao Paulo. ICAP Energy offers real-time price discovery and execution services in crude oil and oil products, biofuels, agriculture and softs, base and precious metals, iron ore, electricity, natural gas, coal, emissions, freight, weather derivatives and physical products.
ICAP is a leading markets operator and provider of post trade risk mitigation and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through its post trade risk mitigation and information services ICAP helps customers manage and mitigate risks in their portfolios. For more information, go to www.icap.com.