Fintech PR
Oil Brokerage Acquires Blue Commodities, Expanding Physical Broking Capabilities
Acquisition Enhances Oil Brokerage’s Market Reach in Middle Distillates, Fuel Markets, and Shipping, and further expands OTC Global Holdings’ global leadership
LONDON and HOUSTON and NEW YORK, Oct. 9, 2024 /PRNewswire/ — Oil Brokerage, a leading player in the global commodities brokerage sector and a subsidiary of OTC Global Holdings, today announced its acquisition of Blue Commodities (BC). This strategic acquisition strengthens Oil Brokerage’s (OB) position in key physical broking markets, particularly in Northwest Europe (NWE), the Mediterranean (Med), and West Africa (WAF).
Under the terms of the agreement, Blue Commodities will fold into Oil Brokerage and OTC Global Holdings. The acquisition represents a significant step forward in OB’s goal of providing an integrated service offering that span physical broking, derivatives, and shipping markets. The inclusion of Blue Commodities enhances OB’s capabilities in the middle distillates and fuel markets, complementing OB’s well-established presence in gasoline, derivatives, and shipping.
“A Natural Fit for Growth”
Jon Pike, CEO of Blue Commodities, will transition to the role of Chief Operating Officer (COO), Physical, at Oil Brokerage, leading the newly integrated team. Commenting on the acquisition, Pike noted:
“We are thrilled to join forces with Oil Brokerage, whose capabilities in derivatives and shipping will significantly enhance the services we can provide to our clients in physical broking. The combination of Blue’s experienced teams with OB’s extensive network and expertise will allow us to offer a fully integrated service across markets. This partnership positions us to deliver an even higher level of service and innovation to both existing and new clients.”
Strategic Integration and Leadership
Oil Brokerage, already a dominant player in the gasoline market, sees the acquisition of Blue Commodities as a key component in strengthening its offerings in physical broking. Blue Commodities’ established expertise in NWE, Med, and WAF regions brings invaluable knowledge and relationships, offering OB an immediate foothold in markets that traditionally require long-term organic growth.
James McNicol, CEO of Oil Brokerage, commented on the acquisition:
“Blue Commodities’ physical broking business perfectly complements our existing strengths in derivatives and shipping. The acquisition fills critical gaps in our portfolio and enhances our ability to serve our clients with a comprehensive, integrated solution across physical and financial markets. We’re excited about the future with Jon and his team on board.”
Blue Commodities’ leadership team, including Desk Heads Jack Bithell (Fuel), Ben Zahavi (WAF), Paul Hart (Med ULSD), and Pete Ingleton & John Collins (NWE ULSD), will remain intact, ensuring that clients continue to benefit from their extensive market expertise and established relationships.
OTC Global Holdings’ Expansion into Physical Markets
The acquisition also aligns with OTC Global Holdings’ strategy to expand its footprint in physical broking. Joe Kelly, Co-CEO and President of OTC Global Holdings, remarked:
“Acquiring Blue Commodities accelerates our entry into physical markets, especially in regions and sectors where we see significant growth potential. The proven teams from Blue Commodities bring a wealth of industry knowledge and client relationships that would be difficult to replicate organically. This acquisition strengthens OTCGH’s global portfolio and positions us to lead in both physical and derivatives markets.”
With the integration of Blue Commodities into the OB and OTCGH ecosystem, the combined entity will offer a full spectrum of services to clients, further solidifying its leadership in global commodities markets.
About Oil Brokerage
Oil Brokerage is a leading interdealer broker in the global energy markets, specializing in the broking of physical and financial commodities. The company is part of OTC Global Holdings, the largest independent interdealer commodities brokerage in the world.
About Blue Commodities
Blue Commodities is a specialist physical commodities broker with a focus on middle distillates and fuel markets, operating across Northwest Europe, the Mediterranean, and West Africa.
About OTC Global Holdings
OTCGH is the world’s largest independent institutional broker of commodities, covering financial and physical instruments from offices in Chicago, Dubai, Houston, London, Louisville, New Jersey, New York, and Singapore. OTCGH has been awarded 5x “Broker of the Year” by Energy Risk. With a portfolio of nearly 20 companies, OTCGH is a liquidity provider for CBOT, ICE, NYMEX, and NODAL. The company serves more than 450 institutional clients, including over 70 members of the Global Fortune 500, and transacts in hundreds of different commodity delivery points in Asia, Europe and the Americas.
Visit otcgh.com to learn more or watch a short video here: https://vimeo.com/718433168
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View original content:https://www.prnewswire.co.uk/news-releases/oil-brokerage-acquires-blue-commodities-expanding-physical-broking-capabilities-302270557.html
Fintech PR
Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region
DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.
On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”
Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.
His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.
As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.
Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
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View original content:https://www.prnewswire.co.uk/news-releases/wahed-appoints-khalid-al-jassim-as-executive-chairman-of-wahed-mena-to-help-guide-the-strategic-growth-of-wahed-in-the-region-302314779.html
DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.
Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.
Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.
Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
About Qatar Development Bank
Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.
For more information, visit: https://www.qdb.qa/
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View original content:https://www.prnewswire.co.uk/news-releases/qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech-wahed-302314778.html
DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.
In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.
Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.
AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.
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View original content:https://www.prnewswire.co.uk/news-releases/chinas-aima-brand-electric-motorbike-is-now-in-bangladesh-302314773.html
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