Tim Jones has stepped down as chief executive of shipbroker ­Barry Rogliano Salles (BRS) but will remain as chairman in what he describes as a “smooth transition” of leadership.

He has appointed as his chief executive successor Francois Cad­iou, the vice-president of assets who has been with the broking house for 26 years.

Jones, 62, has overseen huge expansion of BRS, in terms of employee numbers and international reach, that has brought the company footprint to today’s 22 offices in 20 countries.