24 January 2011
HOUSTON - Macquarie Group (Macquarie) (ASX: MQG), today announced the expansion of its global physical oil business with the addition of a Latin American oil liquids origination and marketing team. The appointments continue Macquarie’s global expansion of its physical energy and trading platform. The team joins Macquarie’s existing client-focused energy trading business, headquartered in Houston.
The new team, led by Gustavo Giron, Managing Director and Head of Latin America Oil Origination, adds regional expertise to Macquarie’s existing focus on US domestic fuel oil and crude oil and other global oil products. Mr. Giron has over 15 years of energy experience and most recently served as the Regional Manager for Brazil at BP’s Global Oil Trading Division where he was responsible for the firm’s oil marketing and & origination activities. He joined BP in 2004 and held a number of roles including Business Development Director for North America Gas & Power Trading, and Senior Analyst for Infrastructure Strategy and Development. Prior to that, he held a number of roles including Cash Trader for Crude Oil at UBS Warburg. He will report to Nicholas O’Kane, Global Head of Macquarie Group’s Energy Markets Division.
The team also includes:
"Since 2003, Macquarie has successfully built out a global physical trading platform across key commodities including natural gas, power, LNG, coal, NGLs and oil, and today is a major participant in the physical energy," said Nicholas O’Kane, Senior Managing Director and Global Head of Macquarie Group’s Energy Markets Division.
"The addition of this capable and talented team allows us to further extend our presence and expertise into Latin America and is an important next step in the evolution of our business platform. Macquarie has long been active in Latin America through a number of business activities and we are pleased to add physical oil to that suite of client offerings," added Mr. O’Kane.
About Macquarie's Energy Markets Division
Macquarie’s Energy Markets Division (EMD) is a global sales and trading business participating in the following core businesses: US physical and financial natural gas, coal, oil trading, power and UK utilities. The division provides innovative and tailored solutions for energy market participants globally by delivering energy price risk management ideas, analysis and execution to clients across the spectrum of energy production, conversion and consumption.
EMD is a part of Macquarie’s Fixed Income, Currencies and Commodities (FICC) business group. Through FICC Group, Macquarie is active in a broad range of financial and physical commodities markets globally, with a worldwide team of professionals who have in-depth knowledge across a range of commodity sectors.
About Macquarie Group
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Macquarie’s main business focus is making returns by providing a diversified range of services to clients. Macquarie acts on behalf of institutional, corporate and retail clients and counterparties around the world. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries. Macquarie employs approximately 15,500 people and has assets under management of over $US307 billion ($A317 billion) (as of September 30, 2010).
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