UK-based interdealer broker ICAP has bought London-based shipbroker JE Hyde for an undisclosed sum. JE Hyde is well known for its dry cargo indices and has offices in openhagen, Shanghai, Gibraltar, Singapore and Athens. The shipbroker will change its name to ICAP Hyde and Co.
ICAP chief executive Michael Spencer has been quoted as saying said that buying JE Hyde would give his company the basis for further expansion in the shipping market. JE Hyde is reported to have gross assets of £1m (US$1.99m) and employs 54 staff.
ICAP chief executive Michael Spencer has been quoted as saying said that buying JE Hyde would give his company the basis for further expansion in the shipping market. JE Hyde is reported to have gross assets of £1m (US$1.99m) and employs 54 staff.