Noble set to rope in former Morgan Stanley banker as next chairman

Noble Group Ltd. signage sits on display outside during an investor day in Singapore. Photographer: Nicky Loh/Bloomberg

Noble Group Ltd is set to appoint Ian Potter, a former senior banker at Morgan Stanley, as its next chairman in a few weeks, just as the commodities trader seeks to complete its $3.5 billion debt restructuring, sources with knowledge of the matter said on Monday.

Singapore-based Potter has been working with Noble in an advisory capacity for the past few months, said one of the sources, who declined to be named as Singapore-listed Noble has not made any official announcement about its next chairman.

Reuters was not able to contact Potter and an external spokeswoman at Noble had no immediate comment on the subject.

Potter is a managing partner at Lion City Capital, a private investment company. He previously had a nearly two decade stint at Morgan Stanley, where he was the head of its Asia commodities, among other roles, according to his LinkedIn profile.

Paul Brough, a restructuring veteran and Noble‘s current chairman, brought the firm back from one of the biggest near-death corporate experiences in Asia and had said he would step down once the restructuring was completed.

Noble‘s next chairman will be tasked with steering the company into profitability as it transforms itself into an Asian-centric trader mainly dealing with coal, freight and liquefied natural gas.

Noble is seeking approval from a UK court and a Bermuda court for its restructuring and payment to creditors, in what would mark its final hurdle to completing the debt-for-equity swap. Faced with the prospect of insolvency, Noble‘s shareholders reluctantly backed its restructuring.

The Financial Times reported on Monday that Potter had emerged as the frontrunner to be the next chairman of Noble.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.