Obituary: John Newbold

Tuesday, April 15, 2008

John "Jock" Newbold died Saturday, April 12, in New York. He was among the most well-known and highly respected figures in shipping and financial circles.

Jock was most recently a Non-Executive Director of Castalia Partners Limited and also a member of the Advisory Board of Castalia Straits L.P.

Newbold retired from Citigroup in 1997 after a 36-year career, the last 21 of which were spent with Citibank’s business with the shipping industry.  From 1985 to 1997, Newbold was Division Executive in charge of the Global Shipping Division with offices in New York, London, Piraeus, Tokyo and Hong Kong. Earlier in his career, he held positions as Head of the Corporate Bank in Japan, Head of the World Corporation Group for Singapore and Malaysia, and Head of the Wholesale/Retail Trade Department in the United States. 

After his retirement from Citigroup, he was a consultant to companies in the shipping industry.  He also served as Chairman and a director of a privately held real estate investment company, Merchants’ Fund Inc., in Bethesda, MD, a role he held since 1981. For four years, he was the Chairman and a director of First Olsen Tankers Ltd, until he resigned in 1999 after the company was taken private. He served as director of Grupo TMM SA de CV, Mexico City from 1998 until July 2003 and was a director of Timex BV, the maker of Timex watches until 2005.  

Mr. Newbold lived in New York, New York.  He held a BS degree from Yale University and an MBA from New York University. 

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