ICAP Shipping and Howe Robinson launch new venture "Howe Robinson Partners"
London, 1 April, 2015 – ICAP Shipping, the shipping business of ICAP plc, a leading markets operator and provider of post trade risk and information services, and Howe Robinson Group Pte Ltd (“Howe Robinson”), the leading ship-broking group, announce today that they have formed a new venture, ‘Howe Robinson Partners’. The new group of companies are now fully operational and have commenced trading. ICAP will take a 35% shareholding in the new venture.
Howe Robinson Partners will be led by Peter Kerr-Dineen as Chairman, with Henry Liddell as Head of the Tanker division, George Hulse as Head of the Container division and Guy Hindley as Head of the Dry division. Howe Robinson Partners will be headquartered in Singapore and employ approximately 240 employees across offices in London, Hamburg, Copenhagen, Gibraltar, Shanghai, Tokyo and Hong Kong to become one of the world’s leading businesses in the sector.
It is intended that ICAP Shipping’s India, Dubai and US operations will be transferred to Howe Robinson Partners in due course. ICAP’s Forward Freight Agreements business will continue to be run by ICAP Energy, working closely with Howe Robinson Partners.
Paul Newman, Chairman, ICAP Energy, said: “We’re pleased to announce the creation of Howe Robinson Partners. Howe Robinson and ICAP Shipping are highly complementary global businesses. The new venture will enable us to better service the diverse needs of our clients operating across multiple locations and market segments, now and into the future. We’d like to thank our employees for moving with us into the new venture and look forward to prospering as Howe Robinson Partners transitions into one of the largest ship-broking companies in the world.”
Peter Kerr-Dineen, Chairman of HRP, said: “We believe that this new venture will meet the needs of our clients, and in doing so, fulfil the aspirations of our brokers. Whilst benefiting from a corporate framework, partnership is at the heart of our new enterprise. It has been exciting to work with so many new colleagues in developing this new entity. I believe we have created a group which will have the ethos and vitality to attract and retain our industry’s brightest talent.”
|Bryony Scragg||ICAP Communications UK||+44 (0)20 7050 7124|
|Alex Dee||ICAP Head of Investor Relations||+44 (0)20 7050 7123|
|Jasmine Yap||Citigate Dewe Rogerson (for ICAP Asia)||+852 3103 0108|
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.