ICAP (company)

Infobox Company
company_name = ICAP plc
company_
company_slogan =
vector_
company_type = Public (lse|IAP)
genre =
foundation = 1986
founder =
location = London, England, UK
origins =
key_people = Michael Spencer - Group CEO
Mark Yallop - Group COO
area_served =
industry = Banking
products =
revenue = profit£ 1,106 million (2007)
operating_income = profit£ 248 million (2007)
net_income = profit£ 126 million (2007)
num_employees = ~3,000
parent =
subsid =
owner =
homepage = [http://www.icap.com www.icap.com]
footnotes =

ICAP plc (LSE|IAP) is a U.K. based inter-dealer money broker, the largest in the world, carrying out transactions for financial institutions rather than private individuals. ICAP plc is headquartered in London, England, UK and operates from London, New York (Jersey City) and Tokyo with offices in a further 21 smaller financial centres such as Madrid and Sydney. The average daily transaction volume for ICAP plc exceeds $1 trillion, with an even split between paper and electronic transactions. ICAP is an abbreviation for "Intercapital", a name by which the business was previously known.

History

The Company evolved from a merger between "Garban plc" and "Intercapital plc" which created "Garban-Intercapital plc" in 1999. [http://www.icap.com/about-the-group/history.aspx ICAP History] ]

"Intercapital plc" was originally founded by Michael Spencer in 1986 as "Intercapital Private Group Limited" ('IPGL'); in 1998 it was acquired by Exco plc in a reverse takeover and the enlarged business was renamed "Intercapital plc". [ [http://www.numiscorp.com/uploads/field2_29-04-2003_14_32_43_3534_Board%20Changes,%20Equity%20Issue,%20LTIP.pdf Numis Corporation Board Changes] ]

"Garban plc" was originally established in the 1970s as the financial services division of "MAI plc". Several takeovers followed, starting in 1977 when "MAI plc" acquired "Harlow, Meyer and Co". "Mallon & Dorney" and "Garvin GuyButler" were both acquired by 1982 and in 1983, "Garban LLC" was acquired giving "MAI plc" significant broking interests in the UK and overseas. In 1996, "MAI plc" was merged into United News & Media plc: its financial services division was then de-merged and listed on the London Stock Exchange in 1998 as "Garban plc".

The Company changed its name from "Garban-Intercapital plc" to "ICAP plc" in 2001.

In 2007 the Company acquired "Traiana", a post-trade transactions processing business. [ [http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article2629500.ece ICAP buys Traiana for $247m] ]

Operations

ICAP trades in a number of areas, including derivatives, fixed income securities, money market products, foreign exchange, energy (such as gas and oil), credit and equity derivatives. [http://miranda.hemscott.com/ir/iap/ar_2006/ar.jsp ICAP plc 2006 Annual Report p1 "Financial Highlights"] ]

Christmas Fundraising

In December 2006 members of staff and celebrities (including Prince William) dressed as characters from the children's cult TV classic Rainbow to raise over 7 million GBP for charity [Article [http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/12/09/ccdiary109.xml Bungle executes a zippy trade] in the Royal Exchange Column (byline, Helen Power) of issue 2,426 (dated 9th December, 2007) of The Sunday Telegraph] . This year Twiggy and Myleene Klass will be leading the line in an attempt to break the 10 million barrier.

References

External links

* [http://www.icap.com www.icap.com] ICAP Website