ICAP, a leading markets operator and provider of post trade risk mitigation and information services, has announced that it is in discussions to combine ICAP Shipping with Howe Robinson, the leading ship-broking group to create one of the world’s leading businesses in the sector.
The newly formed ship-broking company is expected to be operational in the second quarter of 2015.
The combined entity will be well placed to meet the aspirations of its staff and to attract top class talent from across the industry. Howe Robinson and ICAP Shipping are highly complementary in terms of products and geographies. The combined entity will be able to better service the diverse needs of clients operating across multiple locations and market segments, now and in the future.
Howe Robinson was established in London in 1883. It has since grown into one of the largest privately owned dry-cargo and containership broking houses in the world, with a global network of 6 offices, employing over 150 employees. ICAP Shipping became a leading force in the ship-broking sector in 2007 with the acquisition of JE Hyde, followed by the purchase of Capital Shipbrokers the following year. ICAP Shipping employs 196 people across 10 offices.
There can be no certainty that any transaction will be successfully concluded. Further statements will be made as and when appropriate.