When Julie Lithgow became director of the Institute of Chartered Shipbrokers (ICS) 3½ years ago, it was heading towards insolvency. Appointing a young but obviously dynamic woman who had never run a company before must have felt like a gamble, but it proved to be an astute move.

The ICS was created in 1911 to set standards that would improve the quality of young British shipbrokers coming into the Baltic Exchange.