ALTAMONTE SPRINGS, Fla.–(BUSINESS WIRE)–Aug. 25, 2003–International Assets Holding Corp. (the “Company”) (Nasdaq:IAAC) today announced that it has recruited Carsten Hils who has over 16 years ofexperience in foreign exchange trading, with particular focus on the more illiquid and exotic markets. Carsten was previously at Standard Bank – NY for 8 years where he headed up the foreign exchangetrading desk and more recently at Standard set up a successful foreign exchange hedge fund. Prior to Standard, Carsten was at Bank of Tokyo for 7 years and before that spent 3 years at Citibank.
Carsten will focus on the smaller, less liquid foreign exchange markets in the developing world, providing foreign exchange and treasury management service to multi-national corporations, charities and traders active in these markets. In addition, Carsten will offer existing wholesale customers of the Company’s broker-dealer subsidiary a comprehensive foreign exchange capability and the Company will look to more efficiently manage the foreign currency flows already generated through its other international securities trading businesses.
Sean O’Connor, CEO: “The niche customer focused business that Carsten is building is the perfect complement to our existing activities. In addition, as a growing business focused on the international financial markets, expertise in foreign exchange is a key requirement for INTL. We are very fortunate to have a proven professional like Carsten, who has worked with me for many years. This is a further step in our strategy of growing and diversifying our business.”
About International Assets Holding Corp. (Nasdaq IAAC)
International Assets Holding Corporation is an independent, publicly held financial services firm focused on select international financial markets. Using its capital and expertise, the Company and its subsidiaries, seeks to facilitate wholesale, cross-border financial flows through market making and trading of international financial instruments. Its wholly-owned subsidiary, INTL Trading, Inc., is a NASD member broker/dealer and is a leading market-maker in over-the-counter execution of foreign ordinary shares and unlisted American Depositary Receipts (ADRs) and trader of international bonds and fixed income securities. The Company is also an active participant in the precious metals and foreign exchange markets. The Company has operated since 1981 and has been publicly traded since 1994. Additional information is available on the Company’s web site at http://www.intlassets.com.
