Castleton Said to Hire Austin Brown of Moore Capital for Metalsby and
Brown hired to trade industrial metals from Stamford office
Castleton is one the few firms expanding in metals amid slump
Castleton Commodities International LLC hired Austin Brown, a former portfolio manager at Moore Capital Management LLC, to trade industrial metals, according to two people familiar with the appointment.
Brown, who’s worked for hedge funds for the past decade, will trade derivatives from Castleton’s Stamford office, said the people, who asked not to be identified because the information hasn’t been made public. An external spokesman for Castleton declined to comment. Brown didn’t respond to an e-mail seeking comment.
U.S. trading house Castleton, a longtime energy trader, has been growing its metals business since hiring former JPMorgan Chase & Co. executive Peter Sellars last year to lead the division. The company is one of the few firms expanding in metals at a time when most are cutting exposure amid sluggish Chinese demand and sliding prices. It recently pushed into metals derivatives with a hire of Morgan Stanley trader Saurabh Sharma.
Brown spent the past three years at Moore in London. Before that he worked for Caxton Associates LLC, Touradji Capital Management LP and BlueGold Capital Management LLP. He also acted as the head of commodities analysis and market research for Inco Ltd., a Canadian nickel producer that’s now part of Vale SA.
Castleton acquired Morgan Stanley’s oil business for more than $1 billion last year. The trading house is headed by former special-operations soldier turned math wonk William Reed and financed by hedge-fund managers including Paul Tudor Jones and Glenn Dubin.