FOR IMMEDIATE RELEASE
Contact: Laura Chia
141 W. Jackson Blvd
Chicago, IL 60604
35-year Industry Veteran Tony Drake Joins Phillip Capital Inc. as Vice President of Agriculture Trading
Chicago, June 2019 – Phillip Capital Inc., a self-clearing futures commission merchant, broker dealer and member of the PhillipCapital Group, announced that Tony Drake has recently joined the firm as Vice-President of Agriculture Trading. Drake has more than 35 years’ experience in the livestock industry including brokering, trading, execution, research, and working with institutional clients’ hedging and risk management needs.
Drake’s directive is to further expand the agriculture division of Phillip Capital Inc.
"I joined Phillip Capital because it has a unique story to tell, especially with the large capital base it has to grow its business. Joining forces with such a diverse, lean, and flexible global organization will significantly benefit our client base,” said Drake.
Lynette Lim, Co-CEO and Director of Phillip Capital Inc. said, “We are delighted to have Tony join us. Combining his years of experience serving agricultural customers with Phillip Capital’s established team and available capital - it’s a great fit. We recognize the strategic significance of expanding an agriculture division in Phillip Capital that focuses on the needs of commercial producers and hedgers.”
Drake began in livestock at Drake and Company, a family owned firm, in the Indianapolis Stockyards in 1977. He graduated from Indiana University in 1984 with a B.S. in Finance and continued his career at Cargill Investor Services in New York and Chicago, eventually running their U.S. agricultural futures execution and research. He formed Drake Trading Group in 2005, which combined research and futures execution on the CME Group trading floor. This 10-person group eventually became one of the largest-volume broker groups in the livestock quadrant. In 2015 Drake sold this group to the employees and left the trading floor. In 2016 he joined CME Group as Senior Director, Agricultural Products, focused on updating and marketing all livestock futures contracts.
Serving more than 1 million clients worldwide, the PhillipCapital Group of companies spans 15 countries and offers a comprehensive suite of financial services including futures, foreign exchange, equities, fixed income, bonds, unit trusts, real estate, and insurance. With shareholder's funds greater than $1.5 billion and global assets under custody/management greater than $35 billion, the group has been profitable each year since its founding in 1975. The group is also privately held with no long-term debt.
The PhillipCapital Group employs more than 5,000 people worldwide, with offices in Singapore, Hong Kong, China, India, Japan, Malaysia, Thailand, Indonesia, Cambodia, Sri Lanka, United Kingdom, France, Australia, Turkey and Dubai.
Formed in 2010 as a futures commission merchant (FCM), Phillip Capital Inc. has exchange memberships on the CME, CBOT, COMEX, NYMEX, ICE Futures US, CFE, NFX, ICE Futures EU and DME. In addition, Phillip Capital Inc. provides access to all the major Asian exchanges and other global exchanges through the network of PhillipCapital Group.
Phillip Capital Inc. is authorized and regulated by the U.S. Commodity Futures Trading Commission and the Financial Industry Regulatory Authority.