About us

The pH Report and leC

The pH Report is published by IeC, a London-based strategy consultancy advising Fortune 500 and FTSE 100 companies, investment banks and fund managers.

Our value proposition is based on our ability to view the economy through the lens of the chemical industry, which is proven to be the best leading indicator for the global economy:

  • Our approach is data-driven, and we cover areas where the team has long-term expertise such as developments in China, oil markets, geopolitics, as well as chemicals/plastics themselves and their key end-uses – autos, housing and electronics
  • Our privileged position as advisers to investors and corporates enables us to operate in a ‘sweet spot’ where we can help investors to better understand companies’ key priorities, and help companies to understand investor needs
  • Having successfully forecasted the 2008 subprime crash, we were able to use the analysis in our 2011 book, ‘Boom, Gloom and the New Normal’ to identify how politics was starting to dominate the economic agenda.   
  • Via our analysis of the waste plastics/circular economy issue, we were also one of the first to identify how sustainability is replacing globalisation as a key driver for the future


Paul Hodges

Paul Hodges

Is a trusted adviser to major companies and the investment community, and serves as a Global Expert with the World Economic Forum.  He has a proven track record of accurately identifying key trends in global marketplaces.  Paul is a popular speaker at international conferences, and writes regularly for the Financial Times and other leading media. He has been widely recognised for his pioneering work in identifying the impact of ageing BabyBoomers on the economy and for correctly forewarning of the 2008 global financial crisis.

Paul is also non-executive Chairman of NiTech Solutions and Chairman of ReadyforBrexit. Prior to launching IeC in 2001, Paul worked in senior positions for Imperial Chemical Industries (ICI) in the UK and USA, and was Executive Director of a $1 billion ICI business.

He is a Member of the Energy Institute and a Freeman of the City of London. He is a graduate of the University of York, and studied with the IMD business school in Switzerland.


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Daniel de Blocq van Scheltinga

Daniël de Blocq van Scheltinga

Was the first foreigner to be granted permission to run the finance company of a top-tier Chinese State Owned Enterprise, when establishing and managing Chem-China Finance Company. Previously, Daniël held a variety of senior positions in corporate and investment banking, including as Asia Pacific Head of Chemicals and Asia Head Asset Based Finance for ABN AMRO.

He has lived in Hong Kong for 14 years, and continues to spend much of his time in China, advising both international and Chinese firms, as well as leaders in the public and private sectors. Daniël is a graduate of Leiden University in the Netherlands, holding a Master of Law degree with a specialty of International law.


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David Hughes

David Hughes

Is an expert on the Middle East, having lived and worked in Riyadh, Saudi Arabia for 5 years, after leading SABIC’s global business redesign programme in 2009. He is CEO of International eChem and ReadyforBrexit. Previously, he held a range of senior executive positions with SABIC, Huntsman and ICI, where he led a range of global $1bn+ businesses based in the Middle East, Europe and the USA. He also served on a number of industry bodies, including as Vice-Chairman of the Board of Petrochemicals Europe, the Asian Clean Fuels Association and the Methanol Institute.


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Paul Satchell

Dr Paul W Satchell

Paul has a total of 37 years of chemical industry experience, beginning as a chemist at BP’s Research Centre in Sunbury-on-Thames in 1980. He spent sixteen years working in the industry itself, predominantly with BP/BP Chemicals and as a specialist industry consultant with Coopers & Lybrand. From 1996 to 2017 Paul covered the global chemical industry as an equity analyst with a range of international banks, including ING, Merrill Lynch and Investec. In addition to traditional secondary-market recommendations, advisory work in M&A and lending were recurrent themes throughout. Paul was arguably best known as an analyst for his development of the Chemicals Volume Proxy, a unique real-time monitor of chemicals demand. Paul is Honorary Treasurer of the Royal Society of Chemistry, having previously chaired the RSC’s Investment Committee, and sits on the Editorial Advisory Board of ICIS Chemical Business.


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