BRUSSELS, Belgium, April 4, 2005 (PRIMEZONE) -- Fortis Bank is delighted to announce a significant expansion of Fortis Commodity Derivatives in London. In order to enhance our Commodity Brokerage operations in the Agricultural sector we have acquired the services of six Cocoa, Coffee and Sugar brokers, formerly with Credit Lyonnais Rouse, part of the Calyon group, to work alongside our existing team. This new group will report to Mr Christopher Johnson who joined Fortis in February as Head of Agricutural Commodities. In addition to the expansion of the Front office team, Fortis have expanded their support teams and electronic trading platform.
Mr Ian Downes, Head of Fortis Commodity Derivatives said, "The Global Commodities Group within Fortis Merchant Banking has long been recognised as a key and major player in commodity finance and Fortis Commodity Derivatives seeks to service all of the derivative requirements of our Banks clients. We operate as outlined above in the Agricultural Commodities markets and also in the Base & Precious Metals derivatives arena. The Base and Precious metals team is headed by John King, acts as a market maker and provides the full suite of Base and Precious Metals derivative products.The expansion in both of these activities over the last year represents the next stage in our development with the ultimate aim of being both the Commodity Finance and Commodity Derivative Bank of choice for our customers and the wider market."
Fortis also operates in the Energy and Environmental Derivatives markets from its offices in Brussels, Amsterdam and in New York.
Merchant Banking is a division of Fortis Bank and offers financial solutions to cater for the needs of corporate and institutional clients. Merchant Banking complements its European core business with expertise in niche activities with a regional or global scope towards the US and Asia.
More info on www.merchantbanking.fortis.com
Fortis Bank is part of Fortis, an integrated financial services provider active in the fields of banking and insurance. With a market capitalization of EUR 28.6 billion (31/03/2005) and around 52,000 employees, Fortis ranks in the top 20 of European financial institutions. In its home market, the Benelux countries, Fortis occupies a leading position which it aims to develop and bolster. Fortis is drawing on the expertise it has acquired in its home market to realize its European ambitions via growth platforms. Fortis also operates successfully worldwide in selected activities. In specific countries in Europe and Asia it effectively exploits its know-how and experience in bancassurance. Fortis is listed on the exchanges of Amsterdam, Brussels and Luxembourg and has a sponsored ADR programme in the United States. More information is available on www.fortis.com