Adrian ‘Ace’ Israel was one of the giants of the commodity business during the 1960s and 1970s and an important leader during the early days of financial futures. His family’s roots in the trading of tropical commodities began more than 100 years ago, when the Israel family established a merchant trading firm in Louisiana and began importing coffee beans from South America. Under his leadership the family firm grew into a global commodities trading firm and one of the world’s largest privately-owned merchant organizations, with its headquarters in New York and offices operating on five continents. The company was one of the most important participants in the futures and physical markets for coffee, cocoa and rubber. The firm was also one of the first institutional brokers in financial futures when they were introduced by the Chicago exchanges. In 1981, ACLI merged with the investment banking firm Donaldson, Lufkin & Jenrette, at which point the Israel family became the largest shareholder of DLJ. Ace Israel was a trader’s trader and many leading figures in the futures industry spent their formative years working under his tutelage. Israel died in 1991.