Commodity Trader Gunvor Expands Metals Trading With TrioAndy Hoffman and Agnieszka de Sousa
Gunvor Group Ltd. hired metals traders in Geneva and Singapore as the company expands operations beyond crude and petroleum products.
Vadim Linchevsky, previously with Gerald Metals LLC, joined Gunvor this month in Geneva to trade industrial metals. Bill Shi, formerly of Mercuria Energy Group Ltd., started at the Singapore offices in July, also in industrial metals.
Ross Sabberton joined Gunvor in June from Wogen Group. Sabberton will be based in Singapore and trade specialty ores, Gunvor spokesman Seth Pietras said by phone.
“As we continue to hire in metals, we are also adding positions in compliance to support this growth,” Pietras said. He declined to say how many compliance personnel Gunvor added.
One of the five largest independent energy traders handling about 2.5 million barrels of oil a day, Gunvor has sold the bulk of its Russian assets including a crude product terminal, pipelines and coal mine stakes to reduce exposure to the country. It also offered to buy back the outstanding notes of a $500 million bond due in 2018 and is looking to acquire assets in Asia, Europe, Africa and North America.
Based in Cyprus with major operations in Geneva and Singapore, Gunvor hired metals traders from Noble Group Ltd. and Cargill Inc. last year to diversify its trading business.