Welcome to this month’s edition of “Trading Places,” where we shine a spotlight on the dynamic world of commodities trading and the power players steering its course. The executive shuffle is in full swing, with top-tier CFOs and CEOs switching companies like pro traders swap commodities. 🌟
In this rollercoaster of boardroom moves, we uncover the stories behind the transitions, the bold decisions driving these shifts, and the ripple effects across the industry. From strategic shake-ups to surprise appointments, our monthly roundup promises a thrilling journey through the corporate corridors of commodities trading.
So, buckle up and join us as we navigate the latest executive moves, explore their impacts, and celebrate the fresh perspectives breathing new life into the market. Let’s dive into the who’s who of commodities trading! 🏆
Stephan Jansma
Trafigura said its CFO Christophe Salmon would retire at the end of June after 12 years at the firm and executive director Jose Maria Larocca at the end of September.
Trafigura has promoted Stephan Jansma, currently CFO, Asia Pacific, to the role CFO of the group. He will assume the role of group CFO from July 1, the company said.
Management changes (trafigura.com)
Patrick Burke
Jesus Fernandez, the head of mergers and acquisitions at Trafigura Group, is leaving.
After working for the company for about 20 years, Jesus Fernandez will retire, according to people familiar with the situation who wished to remain anonymous because the details are not yet public.
He will be succeeded by Patrick Burke, another longtime Trafigura dealmaker.
Trafigura M&A head is latest top executive to retire from trader (miningweekly.com)
Richard Holtum
Trafigura CEO Jeremy Weir is getting ready to hand off the reins and introduce Richard Holtum as his replacement. Despite the lack of an official announcement, Holtum and important clients have been meeting strategically recently, suggesting that they are prepared for a change that may happen this year. As the head of Trafigura’s global gas, power, and renewables division, Holtum has played a key role in propelling the business to unprecedented profits despite the energy crisis in Europe and the market fluctuations brought on by sanctions against Russia. This leadership change represents a major step towards the company’s embrace of a future centered on renewable energy and the electrification of global energy markets, even as it navigates past challenges, such as resolving legal issues related to bribery investigations.
Exclusive: CEO of commodity trader Trafigura starts handover to successor | Reuters
Kostas Bintas
Top metals trader Kostas Bintas, a former co-head of metals at Trafigura, has joined energy trader Mercuria.
Bintas who left Trafigura last year is expected to start at Mercuria in the middle of 2024.
Nick O’Kane
Mercuria has also hired banker Nick O’Kane on first May from Macquarie.
Steve Hill
Prominent gas trader Steve Hill, who was previously Shell’s head of LNG, has also joined Mercuria.
William Gayner
In a further move to diversify its business amidst the energy transition, Vitol, has hired William Gayner and Benjamin Seaford from competitor Mercuria to trade metals. Former heads of Mercuria’s metals division Seaford and Gayner bring experience in trading aluminum.
Josh Zacharias
Josh Zacharias took over as CEO of Ameropa on 15 April.
Paolo Cabrejos
Paolo Cabrejos, formerly of Traxys, and Michael Gerard, formerly of IXM, were recently hired by Gunvor to expand its concentrates trading business.
Robert Alpen
Robert Alpen is a gas specialist that Brevan Howard Asset Management is hiring as it gets back into commodity trading after almost ten years away from the markets.
Alpen, who was most recently head of European gas trading at Engelhart Commodities Trading Partner
Dinu Daniel
Veteran of WTW Dinu Daniel is taking up a new role at Louis Dreyfus Company in Switzerland as as captive insurance program manager