Huntington Bank Launches Commodities Hedging to Help Customers Compete More
Successfully in Global Markets
Twenty-two-year commodities hedging veteran tapped to lead team
COLUMBUS, Ohio -- February 7, 2013
Huntington Bank has launched commodities hedging to help its customers
increase their competitive edge in global markets. The offering concentrates
in over-the-counter energy and metals in key industries Huntington serves.
Darrell Fletcher, who has more than 20 years of commodities hedging
experience, is leading the team offering the new product to commercial and
“We’ve placed an extraordinary emphasis on developing dynamic capabilities and
expertise for our customers’ long-term success,” said Huntington’s Regional
and Commercial Banking Director Jim Dunlap. “Huntington’s introduction of
commodities hedging is a direct result of listening to our customers who
requested a larger array of risk management tools to make their businesses
more financially secure. Customers want the convenience of working with one
bank where they can manage the price volatility of raw materials, hedge their
foreign exchange and mitigate interest rate exposure.”
Fletcher joined Huntington from Fifth Third Bank where he worked in
commodities and foreign exchange for 13 years. Prior to that, he managed
corporate commodity and foreign exchange trading at Alcoa Inc. in Pittsburgh,
Pa. Fletcher and his team are offering their expertise to companies throughout
Huntington’s six-state region. Huntington also operates a trading desk in
“Our goal is to make it easier for companies to manage their price risk and
succeed,” said Fletcher. “With commodities hedging, customers can effectively
control their revenue or cost structures and better plan for their goals.
Mitigating price risks and maintaining profit margins are a key benefit of
Commodities offered are those most sought after by Huntington customers. They
include aluminum, copper, lead, nickel, steel, tin and zinc. Energy
commodities include natural gas and natural gas liquids, crude oil, diesel and
heating oil, coal, fuel oil and bunker fuels, gasoline and jet fuel. Precious
metals commodities include silver, gold, palladium and platinum.
Commodities hedging is the latest in a series of advancements to Huntington’s
overall capital markets capabilities over the last two years, including
significantly enhanced equity derivatives and foreign exchange businesses.
Huntington also recently launched specialty banking initiatives in energy,
international, food and agribusiness, which are deepening the breadth of
services sought after by major industries across the Midwest.
Huntington Bancshares Incorporated is a $56 billion regional bank holding
company headquartered in Columbus, Ohio. The Huntington National Bank, founded
in 1866, provides full-service commercial, small business, and consumer
banking services; mortgage banking services; treasury management and foreign
exchange services; equipment leasing; wealth and investment management
services; trust services; brokerage services; customized insurance brokerage
and service programs; and other financial products and services. The principal
markets for these services are Huntington’s six-state banking franchise: Ohio,
Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. The primary
distribution channels include a banking network of more than 700 traditional
branches and convenience branches located in grocery stores and retirement
centers, and through an array of alternative distribution channels including
internet and mobile banking, telephone banking, and more than 1,300 ATMs.
Through automotive dealership relationships within its six-state banking
franchise area and selected other Midwest and New England states, Huntington
also provides commercial banking services to the automotive dealers and retail
automobile financing for dealer customers.
The Huntington National Bank, Member FDIC. The logo mark and Huntington® are
federally registered service marks of Huntington Bancshares Incorporated.
Huntington Bancshares Incorporated
Michael K. Sherman, 614-480-6114
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