Type Private Area served Worldwide | Industry Energy, Investments Founded 1996 | |
Headquarters Toronto, Ontario, Canada Number of locations Toronto, Los Angeles, Las Vegas, New York City, Houston, Texas, Hong Kong Products Mortgages, Trading, Insurance, Real Estate Development, Energy | ||
Excon Worldwide, Inc. is a Canadian energy, commodities, equities, and services company based in Toronto with other offices worldwide. Its main location is in Toronto, Ontario, Canada. The group comprises many specialized international offices and subsidiaries. Excon Worldwide has more than seven thousand employees around North America and participates in markets around the world, including Canada, the United States, the UK, Australia, New Zealand, Asia, and the Middle East. Excon Worldwide has offices around the world including Toronto, Los Angeles, Las Vegas, New Yor City, Houston, Texas and Hong Kong.
Contents
- History
- Structure
- Excon Mortgages
- Excon Insurance Group
- Excon Development Group
- Cannix Energy Corporation
- Excon Online
- Offices
- Services
- Membership
- Partnerships
- Awards
- References
The Excon Worldwide, Inc. brand is used by the commodity trading divisions. The mortgage, insurance, and real estate development divisions are managed under a different brand. The only subsidiaries which kept the same name after being acquired by Excon Worldwide, Inc. were Cannix Energy Corporation and Excon Online.
Excon Worldwide is one of the largest commodity trading companies in North America. Excon Worldwide employs approximately 2,800 staff.
History
Excon Worldwide was launched in 1996 as an energy trading and communications company. Since then, Excon has branched out into mortgages, insurance, and real estate development services. Excon opened its first American location in Los Angeles, the second location which followed was its Las Vegas executive office.
Structure
Excon Worldwide owns several subsidiaries which have been renamed to fit under the Excon brand name. These subsidiaries include; Excon Mortgages, Excon Insurance Group, and Excon Development Group. The trading operations fit under the Excon brand name as well.
Excon Mortgages
The company, known previously as TTL Mortgage International, was founded on October 17, 1968.
In September 1990, Excon Worldwide announced that it would buy out TTL Mortgage International and relocate its headquarters to Los Angeles. These plans were suspended in January 1991, when the company announced its Los Angeles branch was moving to its new offices at 811 Wilshire Blvd, Los Angeles.
Excon Insurance Group
On December 21, 1999, Excon Worldwide bought all of the insurance operations of Ross & White Insurance Company. The company announced plans to complete the rebranding of Ross & White branches to Excon by late 2000. Since 2001 all Ross & White branches and offices have been rebranded Excon Insurance Group.
Chief executive Jacob White was flown in from Seattle to New York on the day the acquisition was completed, and eventually received a $5.5 million sign-on bonus and cash severance of $8.1 million after signing up as Excon Insurance Group's CEO.
Excon Development Group
In 2003, Excon Worldwide bought Las Vegas-based real estate development company Nevada Realty Developers Corporation, bringing on current chairman Jonathan Dimon as President and COO and designating him as CEO Gregory Harrilson's successor. Dimon's pay pegged at 90% of Harrilson's. Dimon quickly made his influence felt by embarking on a cost-cutting strategy, and replaced former Excon Worldwide, Inc. executives in key positions with Nevada Realty Developers Corporation executives-many of whom were with Dimon since the beginning of his career at Nevada Realty Developers Corporation. Dimon became CEO in January 2006 and Chairman in December 2006. When Nevada Realty Developers Corporation was bought out by Excon Worldwide then CEO Gregory Harrilson was informed to change the name of the company to Excon Development Group, this allowed the real estate development giant to fit under Excon's branding web, and allowed the company to issue real estate development loans to other development companies for Excon Worldwide.
Cannix Energy Corporation
Cannix Energy Corporation is an energy and natural gas corporation based in Houston, Texas. The company specializes in the energy industry by investing or developing energy power plants around the world. The company also specializes in the purchase and resale of energy treating it as a commodity. Founded in September 1971 Cannix Energy grew into one of the most profitable corporations based in Nebraska, the company employs over 500 people who specialize in the energy sector. In March 2005, Excon Worldwide acquired Cannix Energy for $602,070,000.
Excon Online
Excon Online is an internet company which specializes in internet advertising, programming, web development, and is an internet service provider. The company was founded in late 2009 in Toronto, and was sold in 2011 to Excon Worldwide. Excon Online offers internet services, web development, programming, internet advertising, mobile advertising, Search Engine Optimization (SEO).
Offices
Although the old Excon headquarters were located in Mississauga, Ontario, the current world headquarters for Excon are located at a new downtown office downtown Toronto.
The bulk of North American operations take place in two office locations, one in Toronto and the other in Calgary. The sales and trading operations take place in its Montreal head office. The operations involved in energy take place in Calgary and Los Angeles. Excon's subsidiary Cannix Energy Corporation is based in Houston, Texas.
The mortgage operations for Excon Worldwide are headquartered in New York City at the 1221 Avenue of the Americas.
The Asia Pacific headquarters for Excon Worldwide are ilocated in Hong Kong.
Services
Excon Worldwide, Inc. offers a variety of services; insurance, mortgages, real estate development internet services, and natural gas services. In early 2000s Excon Worldwide, Inc. began offering insurance and mortgage services around the world. In 2005 Excon Worldwide, Inc. purchased energy giant Cannix Energy Corporation, this put Excon Worldwide, Inc. in the energy wholesale business.
Membership
Excon Worldwide is a member of the Business Energy Advisor Program.
Partnerships
Excon Worldwide partners with CIBC, BMO Capital Markets, GoldStone Investments, and TD Canada Trust
Awards
Excon Worldwide has won several awards for business and customer satisfaction, including the Imagine Canada Award, the HSBC International Business Award, and The Great Canadian Award. In 2009 Excon Worldwide was ranked one of the top 50 managed companies in Canada.