TPT May 2016

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MAY 2016 21
I NDUS T RY
Gupta family recruits Jay
Hambro to strategic board
THE Gupta family, which controls
commodities, energy and industrial
interests worldwide, has appointed Jay
Hambro as a senior member of its group
management team.
Mr Hambro, who has been executive
chairman of commodities producer
IRC since 2010, joins the Guptas’
group strategic board as group chief
investment officer and chief executive
officer of SIMEC energy and mining
divisions, spearheading the global
development plans of the business.
The Gupta family, which owns the
international commodity and industrial
groups SIMEC and Liberty House, has
been undertaking major investments,
including the purchase of Uskmouth
Power Station and reactivation of the
Liberty Steel rolling mill, both in South
Wales, and the acquisition of most of the
former Caparo steel and engineering
businesses in the UK’s West Midlands.
Mr Hambro’s primary role will focus on
the worldwide development of SIMEC
(shipping, industrials, mining, energy
and commodities), which currently
includes a power generating arm and
a global portfolio of trading operations
focused on the resources sector.
One of his immediate roles will be to
lead the completion of the purchase
of the Tungsten Bank, which Gupta
family interests recently entered into
an agreement to acquire, as part of its
broader strategy to invest in finance
for the commodities industry. This is
subject to the approval of the Prudential
Regulation Authority.
PK Gupta, chairman of the SIMEC
Group, commented, “Appointing Jay
Hambro is a key hire as a part of our
evolution and growth plans. Jay has
a proven successful track record
in buying, building, operating and
financing commodity businesses. He is
well respected in the sector and I am
delighted that he is joining our team.”
Mr Hambro said, “I am very pleased
and honoured to be joining this highly
successful team. What the group has
achieved in creating a dynamic and
entrepreneurial business unit focused
on commodities is to be commended.
I began working closely with the team
some months ago on another project
and so I am well aware of both their
capabilities and their aggressive
expansion plans.”
SIMEC – UK
Email:
Website:
Jay Hambro