Jardine Matheson, the Hong Kong trading giant...

Jardine Matheson, the Hong Kong trading giant founded 150 years ago on the spoils of opium imports to China, is to have its first American boss. Brian Powers, 38, will become chief executive in June when Chairman Simon Keswick steps aside to a non-executive role in the company, which caused major shockwaves in 1984 when it became Bermuda-registered.

“My plan is to make the company even more profitable,” the New Yorker said. “It’s as simple as that.”

Keswick will return to Britain in June after the company’s annual meeting to spend more time with his three children, allowing Powers to inherit the informal title of “taipan,” which means “big boss” to the local Chinese.

Keswick is the seventh Jardine taipan bearing that name. He and his brother Henry, a former taipan, will continue to have strong influence over the company even though their family has only a 10% interest.

The Keswick family, relatives of founder William Jardine, has long been associated with the company set up in 1832 by Scottish opium runners. Simon Keswick fought a fierce boardroom battle in 1983 to resume the family’s control in the company from a group of managers. The two brothers are on the Jardine board, while two other Keswicks also work for the firm.