Millennium Management, the New York-based hedge fund with some $34 billion in assets under management, has expanded its presence in the energy markets by hiring two new energy portfolio managers as part of a broader expansion into commodities trading.
Market sources say Adam Lewis, a former director of natural gas options at Citi, joined the hedge fund in January as a portfolio manager in Houston. Andrew Dodson, most recently head of non-US oil trading at Brazilian bank BTG Pactual, joined as a portfolio manager in London in December. The hires came after Millennium hired Jonathan Keefe as an energy market analyst, based in New York, in November. Previously, Keefe was head of US natural gas and power market analysis for commodities trader Noble Group in Stamford, Connecticut. Last year, Millennium hired John Anderson, the former co-head of global commodities at JP Morgan. Prior to joining Millennium, Anderson had spent 11 years at the US investment bank.
Greg Adams joined JP Morgan as an executive director for commodity sales in January, after leaving his previous position at Morgan Stanley. Adams is currently based in London, but will move to New York later this year, says a spokesperson for the US investment bank. Once in New York, he will report to Chris Calger, JP Morgan's head of corporate commodity sales and marketing for North America. At Morgan Stanley, where he worked from 2012 until the end of last year, Adams had most recently been an executive director in the bank's commodities, energy and natural resources lending group. He initially joined as head of corporate metals sales for Europe, the Middle East and Africa. Before joining Morgan Stanley, Adams was the New York-based head of commodities sales for the Americas at Societe Generale, managing a team of 20 sales and marketing professionals at the French bank. He has also previously worked at Goldman Sachs.
Switzerland-based commodity trader Mercuria has hired Andrea Valerio as head of its oxygenates business, a source close to the company says. Valerio joined in January, according to the source. He is based in Greenwich, Connecticut, and reports to Magid Shenouda, Mercuria's group head of trading. The term 'oxygenates' refers to additives to transportation fuel. Prior to joining Mercuria, Valerio was a Connecticut-based managing director for oil liquids at Noble Group, the embattled Hong Kong-based commodities trader that has been hit with a series of departures in recent months. Earlier, he held several roles in marketing, supply and trading at Italian oil and gas company Eni, based at various times in Milan, New York, Munich and Rome.
John Davis, a former emissions and energy sales trader with CF Partners, joined the London office of environmental services firm South Pole Group in January, the company says. In his new role, Davis leads an international sales team that provides clients in the financial industry with a variety of environmental solutions, including deals involving emissions credits and voluntary carbon offsets. He reports to Andrea Rumiz and Stefan Rösch, account directors at the South Pole Group, which is based in Zurich. Davis left his position at CF Partners late last year. A spokesperson for the London-based carbon trading firm confirmed his departure.