Olam Said to Start Edible-Oils Desk With Hires From Glencoreby
Ton Rabeling to head vegetable-oil desk in Rotterdam: Olam
Van der Graaf said to join as trader, Ketting in back office
Olam International Ltd. hired three people to start a vegetable-oils trading desk in the Netherlands.
Ton Rabeling started Tuesday as head of European soft oils in Rotterdam, Singapore-based Olam said by e-mail. He left Glencore Plc more than a year ago, according to people familiar with the matter, who asked not to be identified because they’re not allowed to speak to the media. Olam also hired Ronald van der Graaf and Ferry Ketting from Glencore, they said.
Olam already trades palm oil and is now expanding into other edible oils including rapeseed and soybean oil, the people said. Glencore, headed by billionaire Ivan Glasenberg, is selling a minority stake in its agriculture business as part of a debt-reduction plan announced last year.
A spokeswoman for Olam couldn’t immediately comment on the appointment of Van der Graaf as a trader and Ketting in a back office role. A spokesman for Glencore declined to comment.
Rabeling worked at Glencore for 11 years, Ketting for 28 years and Van der Graaf for about five years, the people said. Ketting and Van der Graaf will join Olam next month, according to the people.