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ICAP, an interdealer broker and provider of post-trade risk and information services, reports that Paul Newman, managing director of ICAP Energy, will be stepping down as head of EMEA energy and commodities to become chairman of ICAP Energy, effective July 1.
A 24-year ICAP veteran, Newman established the company’s energy business, according to a company statement.
In his new position, he will report to David Casterton, CEO of Global Broking, and work closely with the regional energy management teams to “advance ICAP’s customer proposition across other asset classes in Global Broking to extend product coverage into non-banking clients,” ICAP says.
Dennis Crum, who remains CEO of ICAP Energy US, will take on executive responsibility for ICAP Energy globally, while Graham Francis will take over day-to-day executive responsibility for EMEA energy and commodities, according to the statement.
ICAP Energy focuses on the energy and shipping industries, and 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, according to the parent company.
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- ICAP
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