Citation is an independent investment advisory and corporate finance company, based in London with offices in Moscow and Ghent and worldwide strategic partners providing local contact and access for clients.
Citation has been the Investment Manager to a number of funds. Citation’s role has been to provide the risk management and compliance oversight of the trading manager to insure that the objectives and restrictions of the relevant Offering Memorandum of the fund are adhered to.
Citation has an Experienced Commodity, Finance and Project Management team of professionals covering every aspect of the Natural Resources sector from Banking through to Trading and Risk Management. We provide:
Exceptional Global Deal flow with focus on the commodity sector
Comprehensive Due Diligence of mandated investment opportunities
Assistance in all aspects of corporate & project finance, in particular Deal Structuring
Wide coverage of Institutional investors
Post investment Risk Management
B2B, Brokerage & Corporate Advice
The company acts as an Introducing Broker to a select number of London-based Future Commission Brokers, that are able to provide white labelling solutions that cover electronic platform market executions, provision of financial statements and multi language solutions. Citation advises the client on obtaining the best possible commission and margin rates as well as guiding them through the account opening procedures.
A number of associates of the company can provide hedging and risk management solutions for companies that wish to reduce their exposure to price risk in the commodity, interest rate and foreign exchange markets. These associates have years of experience in working with some of the world’s largest financial and commodity trading institutions.
Due to the requirement for companies to provide ever higher levels of corporate governance, increasing number of boards are bringing in a Non Executive Director that has experience in the sector that the company is operating in and have responsibilities in the following areas:
Strategy: Non-executive directors should constructively challenge and contribute to the development of strategy.
Performance: Non-executive directors should scrutinise the performance of management in meeting agreed goals and objectives and monitoring, and where necessary removing, senior management and in succession planning.
Risk: Non-executive directors should satisfy themselves that financial information is accurate and that financial controls and systems of risk management are robust and defensible.
People: Non-executive directors are responsible for determining appropriate levels of remuneration of executive directors and have a prime role in appointing, and where necessary removing, senior management and in succession planning.
Non-executive directors should also provide independent views on:
Standards of conduct
Non-executive directors are the custodians of the process. They are not involved in the day-to-day running of business but monitor the executive activity and contribute to the development of strategy.
Currently Richard Reinert serves as a non-executive director for PVM Oil Futures Limited (www.pvmoil.co.uk) and a number of investment funds administered by the Custom House Group (www.customhousegroup.com) his curriculum Vitae is available on request.
Gaspard as well as being the CFO of Citation, is the CFO of Russkiy Mir SFAT based in Moscow which is one of the largest private rail oil transport owner and operator that also owns a number of oil terminal and shipping assets. Prior to taking on his current responsibilities, Gaspard held executive positions with Price Waterhouse Coopers Lybrand London UK and Citco Trust Fund Bank Amsterdam Netherlands. He graduated with a Master's in Fiscal Tax Law at Leiden University in the Netherlands.
Andrew has been involved in the securities markets for seventeen years during which time he has been a proprietary trader with a global orientation in financial and commodity markets for international banks, and has for the last seven years been directly involved as a manager and trader within the asset and alternative investment management arenas. He has extensive knowledge of international markets and applied risk management.
Since 1980, Tim has specialized in all aspects of emerging market development focusing on the financial services sector in Russia, Ukraine, Azerbaijan and Uzbekistan. In addition as Founding Partner of Financial Research Associate (FRA), he has and is engaged in numerous consulting projects on behalf of the UK Government, across all of the Former Soviet Union countries and Indonesia. Total investment value to date is more than $2 billion. Among FRA's major clients are the EBRD, FIAT, Lloyds and the European Union. He was responsible for “incubating” a number of securities market development projects for donor agencies including the European Commission, the Know-How-Fund & the World Bank
Richard as well as being a Managing Partner of Citation an FSA authorized company since 1999, is the Investment Manager for Citation Capital Strategies Limited a Maltese based Special Situations Fund focused on investments in the Former Soviet Union (FSU) retail sector. He is also a non-executive director of PVM Oil Futures Limited, the worlds largest Exchange Traded and OTC energy broker. He began his career in 1978 at Compagnie des Metaux Precieux (CMP), and moved to Gerald Metals Ltd. in 1979. In 1980, he became Account Executive at Drexel Burnham Lambert SA.1983 saw him move to Refco SA Paris as a Founding Director. In 1989 he moved to London to become Managing Director of Refco Overseas Ltd until September 1999. In October 1999 he formed Citation and in 2002 became a Board Member of OTEKO the largest independent rail transporter of oil within the FSU. During his time at Refco Overseas Ltd he was appointed Chairman of the International Petroleum Exchange and the Futures Industry Association and a director of the board of the London Metal Exchange Ltd and the London Commodity Exchange.
Halim joined Citation Capital in 2004 having started his career in 1988 with Drexel Burnham Lambert (Paris) as head of the Quants and Arbitrage department. In the early 90's, he held several senior Management positions for US and European Investment banks such as PaineWebber, now part of UBS, where he was Managing Director and Head of Institutional Sales for the Paris office and Senior Institutional Sales for Calyon. Halim was also Chairman and President of Universal, a Japanese commodity London-based firm and member of the Intercontinental Commodity Exchange “ICE”. Halim has particular expertise in the area of financial engineering and structuring of investment products on behalf of financial institutions and alternative investment funds.
During his time as an independent trader with E-Local Trading, STA Limited, Quantec Derivatives and GHF Financials, Benjamin developed an important network of contacts. Benjamin has access to a large spectrum of investors and strategic partners both in the UK and abroad. Although a generalist covering all sectors, currently Benjamin’s main areas of focus are emerging markets, commodities and natural resources. Benjamin, a shareholder of Energyia Plc a company involved in the Ukrainian oil and gas industry, is responsible for managing the company’s planned upcoming IPO onto AIM. Recent and current deals have included the areas of oil and gas, natural resources, biotech, specialty chemicals, alternative energy and mortgage broking. Benjamin has a BA (Hons) in Economics from Leeds University.
Gino holds a MSc degree in Mining Engineering from the Colorado School of Mines, and his minor is in Mineral Economics. He has more than twenty years of experience in international mining consulting in more than 40 countries. Thorough understanding of mining engineering coupled with strong knowledge of mining economics and project finance. Extensive management and commercial experience with strong interpersonal, leadership, communicational and organisational capabilities. He is a Director of Durus Copper NL of Australia. In addition, he is the managing director for South America of the prestigious mineral consulting firm Behre Dolbear Inc who was founded in1911. He is fluent in Spanish, French, Italian and Portuguese.
Laurent holds a Master degree in Law , with a specialization in European and International Law , as well as MBA in Export Management. Being a young national political leader at that time, he was asked to join the private office of the Belgian Minister for Foreign Affairs, where he was responsible for the policy on foreign trade. In this position he developped the Belgian economic diplomacy and was responsible for the foreign trade missions. Laurent developed an important network of contacts in the economic growth countries, as well in the field of politics and diplomacy, as in the industrial field. In 2009 he created his company Globuz, providing consultancy services in the area of export, trade and foreign investments. The focus lies on the Gulf Region and Latin-America, with special interest in the area of natural resources.
In 1989 Alexander graduated from the Moscow Institute of Aviation. In 1995 – London School of Economics. SFA. Started his career at Price Waterhouse in 1994. Worked with British brokerage company FRA Commodities on assets management at LME and IPE. Risk management and internal audit department manager at the “Norilsk Nickel” (Russian Mining Company) in 2001-2006. CEO of “Investment Energy Company” PLC, Russia, EPC + F in traditional and alternative energy. In 2009-2011 – Executive Director of Russian Investment Company RIC, project funding in IT, precious metal mining and industrial projects. In 2012 - Skywell Capital, PE Investment Fund, Director. Mr. Zakharov is qualified in GreenTech, Mining Industry, at Agricultural and Energy projects.
Fred started his career in the Aerospace industry where he held senior management positions at Boeing and ITT. He then moved to IBM and headed up one of their commercial division’s in Europe. Through his many connections he created business opprotunities in Ukraine from 1991 as the Soviet Union began to disintegrate. He set up hotel projects with Good Night Inns and distributed Pepsi across the region. He than began initiating projects in Azerbaijan where he owned a company that organised ecological cleanup operations for British Petroleum, Cameron Valves, Schlumberger and, Halliburton. His oil cleanup expertise lead to other similar projects in Russia, Kazakhstan, Azerbaijan, Turkmenistan as well as Ecuador and Iraq.
Philippe as well as being an associate of Citation represents PVM Oil, the world´s leading independent broker of oil derivatives, in Latin America. PVM is an expert and world leader in the areas of trading and broking Oil & Gas and Oil instruments derivatives as well as a provider of training, reporting, and consultancy services. PVM helps clients exposed to price risk, by developing and implementing their risk management strategies as well as by offering advice to those clients seeking to optimise their Oil &Gas assets. PVM clients span different areas: Government Agencies looking to hedge their oil exposure, E&Ps, Refineries, National Oil companies, Banks and Trading Companies, as well as industrial users of crude and oil products, such as Airlines. Philippe was a consultant and fundraiser to Ilioss Soluciones Sustentables, a Mexican company which pioneered Solar energy solutions in the Mexican market. The company was later acquired by Solar City, now Tesla Energy. Philippe has been a fundraiser and an advisor to several companies seeking to access the capital markets to fund their growth, divest, or refinance their balance sheets. Philippe is a board member of Coral Capital Group, one of the earliest diversified investors in Cuba in the late 90´s. Philippe is a board member of Caribbean International Environment Services, a company specialising in Oil tank cleaning services with Cupet, the National Oil Company of Cuba as a principal client. Philippe is a board member of the Hotel Saratoga, the only real 5 star property in the Unesco protected Old Havana, selected in 2011 by Condé Nast Readers´ Travel Awards as the no. 12 hotel in The Americas.. Between ´93-´02 Philippe worked for the Refco Group, the largest Futures and Options Commodities broker in the world at the time. He initially worked for Refco's Commodity Pool Operator, its Asset Management division, where he analysed and selected Commodity Trading Advisors and Hedge Funds into structured portfolios destined for institutional investors. He was also responsible for raising funds from institutions in Europe and Asia seeking exposure to Managed Futures. At Refco, he developed client business (hedge funds, industrial hedgers, trading companies, high networth) in areas such as Commodities Futures, Foreign Exchange, Asset Management, and Equity products. Philippe graduated in 1990 with a B.S. in Business Administration and in 1992 with an MBA, from Northeastern University.