BTG Said to Overhaul Agriculture Unit After Greenhall Departure

  • Henry Walsh to head grains trading after Carl Desjardins left
  • Walsh, Beaverson report to Leiman after Greenhall's departure

Grupo BTG Pactual’s commodities unit has restructured its agriculture desks after the departure of Larry Greenhall, who oversaw grains, oilseeds and sugar trading, according to two people familiar with the matter.

Henry Walsh is now leading the grains desk from London after the departure of Carl Desjardins, said the people, who asked not to be identified because the appointment hasn’t been announced. He already worked for the company.

Walsh and Jake Beaverson, BTG’s head of oilseeds in Stamford, will report to the commodity unit’s Chief Executive Officer Ricardo Leiman after the departure of Greenhall last month, the people said. A spokeswoman for BTG Pactual in London declined to comment when contacted by Bloomberg News on Thursday.

Greenhall’s departure comes as BTG Pactual considers a plan to grant equity in its commodity-trading unit to a group of managers and traders after deferring some bonus payments, according to people with knowledge of the matter. The move is intended to retain top talent and preserve the value of the business started in 2013, as well as reassuring lenders and trading partners, they said.

BTG Pactual expects to trade 30 million metric tons of raw materials including grains, sugar, oil and metals this year, according to a document obtained by Bloomberg. The company is also trying to reassure lenders and trading partners after the Brazilian bank’s founder and former Chief Executive Officer Andre Esteves was arrested in November in a corruption investigation.

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