INTL FCStone

INTL FCStone

INTL FCStone Inc
Public
Traded as INTL
Industry Financial Services
Founded 1981
Headquarters 708 Third Avenue
New York, New York, USA
Key people

Sean O'Connor, CEO

Scott Branch, President
Total equity $403.95m (2012)
Employees 1017
Website

INTL FCStone Inc is a Fortune 500[1] financial services firm specializing in commodity trading (primarily base metals, precious metals, and grains) in addition to foreign currency exchange and treasury services, securities execution, and asset management.[2][3][4][5][6][7][8] It is headquartered in New York City, New York. FCStone serves mid-sized commercial clients and its activities are divided into five functional areas: Commodity and Risk Management Services, Foreign Exchange, Securities, Clearing and Execution Services, and Other. INTL FCStone is the result of a 2009 merger between the International Assets Advisory Corporation and FCStone Group Inc. The current CEO is Sean O’Connor[9] who has been with the company since Oct. 2002.

History

FCStone Group Inc.

Founded in 1978, the firm was known as the Farmers Commodities Corporation until 2002. FCStone Group provided integrated risk management services such as market intelligence and analysis to help commodity traders in industries like agriculture, renewable fuels, energy, food service, carbon credits, and forest products. In 2007, the company went public raising $95 million. FCStone executed more than 100 million derivative contracts in 2008 and was a clearing member on all major US future exchanges. The Group served commercial commodity intermediaries, end-users, and producers around the world. As of Sept. 30th, 2009, FCStone Group operates as a subsidiary of International Assets Holding Corp.[3][10][11]

International Assets Holding Corporation

IAHC began as the International Assets Advisory Corporation in 1981. The company started in Winter Haven, Florida in 1981 and was headed by Diego J. Veitia, a graduate of the Thunderbird School of Global Management. The firm’s initial focus was the private placements of stocks and bonds of foreign companies. IAAC then turned its attention to high net worth clients, including individuals and financial institutions, and diversifying their investment portfolios through the sales of equity securities and global debt. In 1987, Veitia created a holding company called International Assets Holding Corporation and went public in 1994. IAHC transitioned into becoming a market maker of international equity securities in the early 2000s and is now a global financial services provider operating through wholly owned subsidiaries in the US, Dubai, Singapore, Argentina, the UK, Brazil, and Uruguay.[12]

Merger

FCStone Group Inc. and the International Assets Holding Corporation merged in 2009. FCStone operates as an independent business unit of IAHC, ceased trading stock on Sept. 30th, and brings over $229.3 million in operation revenues. IAAC officially became INTL FCStone in Feb. 2011.[12]

IAHC serves over 10,000 customers from 27 offices in over 100 countries. Its combined market capitalization is $285 million. Within a month of the merger, IAHC expanded operations to the Pacific Rim with a new office in Sydney, Australia.[12]

References