NEW YORK, May 11, 2009 (GLOBE NEWSWIRE) -- International Assets Holding Corporation ('INTL') (Nasdaq:IAAC) and Consilium Investment Capital ('Consilium') today announced that they have reached agreement for INTL to fully redeem its interest as a joint venture partner in INTL Consilium. The firm will become 100% employee owned and will operate as Consilium Investment Management effective immediately. INTL will recognize a loss of approximately $500,000 on the redemption of its investment in Consilium. Under the agreement, INTL will continue to provide certain services to Consilium through the end of 2009. Consilium's strategy remains unaltered and it will continue to manage its existing range of funds.
About International Assets Holding Corporation (Nasdaq:IAAC)
International Assets Holding Corporation and its subsidiaries (the 'Company') form a financial services group focused on select international securities, foreign exchange and commodities markets. We commit our capital and expertise to market-making and trading of international financial instruments, currencies and commodities. The Company's activities are currently divided into five functional areas -- international equities market-making, international debt capital markets, foreign exchange trading, commodities trading and asset management. Additional information regarding the Company is available on the Company's website at www.intlassets.com.
The International Assets Holding Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5024
About Consilium Investment Management
Consilium Investment Management (CIM), formerly doing business as INTL Consilium LLC, was founded in May 2004. The investment management firm is based in Ft. Lauderdale, Florida with a branch office in London. Consilium Investment Management currently manages $375 million in assets in a suite of EM Strategies and a Global Convertible Arbitrage Fund. The firm is 100% employee owned.
Forward-Looking Statements
Certain statements in this document may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Company's control, including adverse changes in economic, political and market conditions, losses from the Company's market-making and trading activities arising from counterparty failures and changes in market conditions, the possible loss of key personnel, the impact of increasing competition, the impact of changes in government regulation, the possibility of liabilities arising from violations of federal and state securities laws and the impact of changes in technology in the securities and commodities brokerage industries. Although the Company believes that its expectations with respect to the forward-looking statements are based upon reasonable assumptions, there can be no assurances that the actual results, performance or achievement of the Company will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements.