BRS Group has revealed a change in its top management with the promotion of long-serving broker Gilbert Walter.
A statement said Walter took over as chief executive of BRS Shipbrokers in October last year, replacing Francois Cadiou, who remains chairman of holding company BRS International, as well as chartering solutions company AXSMarine.
The group, which is more than 150 years old, is headquartered in Luxembourg but works mainly out of Paris.
BRS said the statement was issued to provide the most accurate information to the media.
Walter was previously vice president of international operations.
Cadiou, a former vice president of assets, took over from Tim Jones, who stepped down as CEO in 2017 and became chairman, before retiring in 2020.
Jones oversaw a huge expansion of BRS in terms of employee numbers and international reach.
He was the youngest of 16 partners behind a leveraged buyout of the brokerage in 1988 from the Barry, Rogliano and Salles family interests.
Cadiou, who has been with the broking house for 32 years, is a newbuilding and sale-and-purchase specialist.
New board constituted
He and Walter were selected to serve on the board in 2017, together with chief information officer Jacques Goudchaux.
In 2007, Walter launched BRS’ tanker operations in Geneva with a team of four brokers initially.
He had transferred from BRS’ newbuilding team in Paris.
Last year, BRS confirmed it was being investigated over its tax affairs.
In a statement to TradeWinds, the company said: “On Thursday 17th March 2022 the French office of BRS group was subject to an enquiry from the French tax administration.
“The group, which is headquartered in Luxembourg since 2008, fully assisted the French tax administration and remains available for any further assistance.”
