Xangbo is a physical commodity trading company, and are majority owned by the McKinsey Investment Office ''MIO'' USA. As such they are a regulated Fund Manager under the Monetary Authority of Singapore. The founding partners of the company are all ex-Cargill.
Xangbo have 7 offices globally; Singapore, Shanghai, New Delhi, Dubai, London, Bogota and New York with the Head Office in Singapore.
Business activities include classical commodity trading (front to back and back to back), commodity pre-payments, structured trade finance, corporate and bank funding trades and very large FX related volumes. Their turnover is approximately USD8mln per annum. They have trading commodity partners in Europe, but from a banking perspective, Europe is less active for them than Asia, USA, and Middle East, hence their desire to join ITFA.
Andrew Fairbrother will be the Main Delegate for all ITFA related matters.