Icap acquires J. E. Hyde shipbrokers
Interdealer broker Icap has acquired shipbroking and shipping services business J.E.Hyde. The new company will be known as Icap Hyde & Company.
The acquired business has gross assets of £1million and employs 54 staff. Its core business of dry cargo ship broking and the sale and purchase of ships is complemented by shipping market research, yacht broking and shipping website design.
Two years ago, Icap and J.E.Hyde created a joint venture to enter the rapidly growing freight derivatives business. Paul Newman, managing director at Icap
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