Macquarie Group's Energy Markets Division (EMD) plans to start a physical oil trading business in Singapore. The initiative follows the successful development of EMD's physical natural gas and electricity trading businesses in North America and Europe, as well as its global physical coal trading operation.
The Australian bank has hired a team of six people led by Stephen Taylor from Masefield AG, an independent oil trading firm based in Zug, Switzerland. Taylor joins as division director and head of physical oil in Asia and reports to David Heard, head of oil & gas Asia.
The team is made up of industry veterans, most with at least 20 years' experience. Taylor has been based in Singapore for the past five years, where he focused on Asia-based trading strategies. Before that he spent 20 years with Shell Group companies in a variety of Asian and global roles within the refining, supply and trading functions.
His team brings knowledge of a range of trading strategies based on low risk intermediation and client service within the global oil trading value chain. Its members also have substantial Asian physical oil experience spanning trading, structured origination, logistics and operations, all according to Macquarie.
- News
-
Investment Lifecycle
Deals & Trends
Rainmakers
Regions
- Research
-
- Awards
-
- Events
- Photo Gallery
