- Montilla will start on Monday, focus on business development
- Hire part of plan to replace traders who left to join Glencore
Noble Group Ltd. hired Lou Montilla from Glencore Plc as part of a rebuilding process of its liquefied natural gas desk after two co-heads left earlier this year, a person with direct knowledge of the situation said.
Montilla, formerly in charge of LNG business development at Glencore, will join Noble’s trading desk in London on Monday, said the person, asking not to be identified because the information is private.
Candice Adam, a spokeswoman for Noble in London, declined to comment. Montilla didn’t reply to a message sent to his LinkedIn Corp. account seeking comment.
Noble, Asia’s largest commodity trader, is strengthening its LNG desk after Alejandro Sanchez Gestido and Gabriel Gonzalez Laguna left this year to join Glencore. They helped restart Noble’s buying and selling of the super-chilled gas from London in 2014.
Montilla was part of a former Morgan Stanley & Co. team that helped Glencore enter the LNG market in 2013. He will focus on longer-dated origination and business development initiatives such as structured products and new markets, the person said.
Noble won slots in Egypt and provided cargoes to buyers in both the Pacific and Atlantic basins. The company in December signed its first contract to supply cargoes to an end-buyer in the Asia-Pacific region and said that LNG volume reached 2 million metric tons in less than 18 months of operations.
The company has “a very strong team” for LNG and is committed to continue expanding the business, Chief Executive Officer Yusuf Alireza said on a Feb. 25 earnings call.
The appointment was earlier reported by SparkSpread.