Fraser Yachts undergoes small restructure (26 September)

The superyacht services provider also plans to expand its yacht management activities

Leading superyacht services provider Fraser Yachts has undergone a small restructuring to take account of key people leaving. The company is also developing new locations in Malta and Singapore and plans to expand its yacht management activities.

On July 1, Fabio Ermetto, previously sales & marketing director at Heesen Yachts, joined Fraser Yachts as chairman and also president of the Yachtique Division of Azimut-Benetti. CEO Hein Velema is leaving and is understood to be reviewing his future. The reason for his departure is unknown at this stage. Patrick Coote, global marketing director at Fraser has been headhunted by Blohm & Voss and he starts on October 1 as its new sales & marketing director.

In its usual press briefing at the start of the Monaco show, Fraser said that June 2013 had been the best month for sales for the past five years. They also indicated that they have continued to be the leading yacht broking house. Ermetto indicated that the company is to looking to develop their yacht management activities in response to client demand.

In other movements, Fraser has set up a franchise arrangement in Malta where Gino Cutajar, the current president of the Malta Superyacht Industry Network, has been appointed. Also in Singapore Fraser, as previously reported by IBI, is working with Julian Chang and it is likely an office will be set up later this year or in 2014.(, 26 September 2013)


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