Marex Spectron Hires ED&F Man Energy Brokers in U.S. Expansion
(Bloomberg) -- Marex Spectron Group hired a team of energy brokers from ED&F Man Capital Markets as the London-based futures and options brokerage presses ahead with its North American expansion.
The team of seven, led by Martin Timmins, joined Marex Spectron’s offices in New York, the company said in an emailed statement. The team, which also includes Lauren Kane and Matthew Ventura, will be focused on energy products traded on CME Group Inc.’s Nymex and the Intercontinental Exchange Inc.
Over the past two years, Marex Spectron has bought two Chicago-based brokerages and expanded its over-the-counter commodities business to the U.S. as part of its North American push. The brokerage has also brought in Ram Vittal from JPMorgan Chase & Co. to lead its operations for the continent.
“We have been steadily growing our presence and expertise in North America to enhance our offering to clients globally,” Vittal said in the statement. “We fully expect that the energy futures group will further strengthen our comprehensive capabilities in this dynamic sector.”
Timmins, a 35-year veteran of the energy futures industry, will report to Vittal, according to the statement. The team, which will serve commercial hedgers as well as institutional investors, also includes Christopher Timmins, Joseph Mancino, Joseph Posillico and Robert Hadley.
Marex Spectron last year acquired X-Change Financial Access, or XFA, a dealer with more than 100 employees which also has offices in New York and San Francisco. That followed a 2019 buyout of Rosenthal Collins Group, a traditional Chicago-based brokerage. The firm also has been expanding its OTC business as banks retrench.
“Joining Marex gives us an opportunity to collaborate with very experienced OTC colleagues and to introduce clients to a wider array of energy products -- particularly with anticipated changes in the energy space and growing interest in environmental, social and governance (ESG) instruments,” Martin Timmins said in the statement. “At the same time, Marex clients globally can now benefit from a dedicated energy futures and clearing team.”
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