London, 29 November 2011

Newedge, a global leader in multi-asset brokerage and clearing, announces the promotion of Michael Dann to Global Head of Agricultural Business, from his current position of Head of Cocoa, Coffee and Sugar.

In his new role, Michael will be responsible for further strengthening Newedge’s Agricultural business in all regions and report to John Fay. Michael takes over from Franck Borgel, who had been serving as Acting Head of Agricultural Business over the last six months, a role he has performed in addition to his duties as COO of Fixed Income, Currency and Commodities (FICC).

John Fay, Global Head of FICC at Newedge, said: “I am delighted to announce this appointment. Michael's experience in the sector, combined with the respect he has earned from colleagues and clients as an established leader within Newedge, positions him and the team well to drive continued success for our customers and our firm.”

Michael has been working in the brokerage business for 30 years, specialising in agriculture and commodities throughout. He began his career with Marshall French & Lucas in 1980 and subsequently spent time with Drexel Burnham, Paine Webber and Brody White, both in New York and London. Following the acquisition of Brody White by Fimat in 1995, he was appointed head of the Commodities business at Fimat and then Newedge in the UK, specialising in coffee, cocoa and grains.

Commenting, Michael Dann said: “Newedge's unique agency broker business model emphasises impartiality and prioritises our clients' interests - as such we are well placed to exploit current opportunities and drive long-term sustainable growth. The Agricultural Business team has a key role to play in this development."

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