Marex Hires Former UBS Investment Banker John Wall as CEO
Marex Spectron Group, a closely held commodities broker, hired John Wall, a former global head of investment banking at UBS AG (UBSN), as chief executive officer to expand its American and Asia Pacific operations.
Wall, 51, will replace Roger Nagioff, who had taken on the job for an agreed timeframe, London-based Marex said in an e- mailed statement today. Nagioff will remain as a non-executive director.
“The areas that have the most potential for growth are the Americas and the Asia Pacific industry,” Wall said in an interview today. “Europe is our home market, but Marex has a complete platform of products and we will now roll out that product range.”
Marex, which describes itself the world’s largest privately owned commodities broker, has about 640 employees as well as offices in Hong Kong and Singapore. It purchased commodity and freight broker Spectron Group Ltd. in March 2011. The firm is controlled by JRJ Group, the London-based investment firm set up by former Lehman Brothers Holdings Inc. bankers Jeremy Isaacs and Nagioff, Trilantic Capital Partners and BXR Group.
Wall returned to UBS in 2009 after taking a short break from the industry. During his 25-year career at the Zurich-based bank, he oversaw proprietary trading and was co-head of its equities unit. He retired as global co-head of investment banking in 2011.
Marex offers clients access to metals, energy and agricultural products, as well as financial futures and foreign exchange broking. Wall said the firm will focus on the metals, crude, fuel and coal sectors. It may also hire more employees for its Asia Pacific and American operations, he added.
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