ADM takes over ICAP's base metals broking business
LONDON, Jan 21 (Reuters) - Archer Daniels Midland Investor Services said on Wednesday it had completed a transfer of the base metals broking operations from major broker ICAP .
An emailed statement said the transfer was completed on Jan. 2 and the metals teams would continue to be lead by Robert Rees.
Last month, industry sources told Reuters that ICAP (LSE: IAP.L - news) planned to exit its base metals broking business on the London Metal Exchange (LME) at the end of December, as part of wider restructuring. (Reporting by Eric Onstad; editing by Susan Thomas)