marco dunand mercuria net worth

Many are unlisted or family run, and because they trade physical goods are largely impervious to financial regulators. They point to very competitive pricing offered by Gunvor when it comes to Russian oil tenders. His partners seized control of the firm in 1994, renaming it Glencore. Mercuria Energy Group, Ltd. Mercuria is a Geneva, Switzerland-based trading firm focused on energy products and dry bulk commodities. You can still enjoy your subscription until the end of your current billing period. The very public power struggle was all the more remarkable because the company normally keeps everything, from its precise earnings to the exact age of its main shareholder and chairwoman, a secret. Shenouda, who joined Mercuria in 2014, had for years been seen as the likely successor to co-founders Marco Dunand and Daniel Jaeggi. But most analysts think it needs fresh capital to grow, or to buy out minority family shareholders who will have the option to sell their stakes in 2012. He is flanked in the top investor table by the youthful heads of Glencores major divisions. Glencore has said publicly it would see good value in a merger with Xstrata, but that has so far been rejected by other, smaller, shareholders. Trading houses have huge volumes of proprietary trading. It doesnt always work. A row over oil export control could jeopardize its role in selling the nations crude. Together, they are worth over a trillion dollars in annual revenue and control more than half the worlds freely traded commodities. Mercurias corporate strategy and culture have reflected the professional paths of its founders, who spent the bulk of their early careers at investment banks. The Kochs have denied funding the Tea Party, but their empires far-reaching tentacles in the political arena have spawned a nickname: the Kochtopus. Lim Oon Kuin arrived in Singapore from China over 50 years ago, and started to deliver diesel by bicycle to boatmen. The companys early forays into trading gas and oil left it with a black eye. The sort of position that has allowed Vitol to do a brisk oil business with the U.S. government, the besieged Syrian regime, and Libyas newly empowered rebels simultaneously over the past few months. It helps that Olam has backing in high places: Singapore state investor Temasek holds a 14 percent stake in the trading firm. Big trading firms now own a growing number of the mines that produce many of our commodities, the ships and pipelines that carry them, and the warehouses, silos and ports where they are stored. Decatur, Illinois-based ADM is one of the worlds biggest commodities traders. [8][9] They and their affiliates joined as founders of Mercuria, and they remain as shareholders today. Thats the setting where we learned the trade, Dunand said in an interview with Swiss newspaper Neue Zuercher Zeitung published in January. Asian demand for South American soybeans has exploded over the last five years and Bunge is arguably the best positioned company in the world as it relates to servicing and profiting from the Asian demand trend, said Jeff Farmer, an analyst who follows the company for Jefferies & Company in Boston. In his only media interview, with Reuters in 2006, Lim credited his success to investment in his tanker armada -- the secret weapon that helped him set up stealthy and profitable deals in the 1990s -- and his philosophy of perseverance. In the early 2000s, the Brent crude oil stream -- used as a global price benchmark -- fell to 400,000 barrels per day from more than 1 million in the late 1980s. That experience defined the trading strategies of Dunand and Jaeggi who moved from Phibro to start Sempras European and Asian trading business in 1999 before founding Mercuria in 2004. 03.10.2014. A wealthier world needs more food. By annual revenue Vitol is richer than Glencore but the numbers arent directly comparable -- Glencore owns more hard assets which, typically, are far more profitable than trade turnover. Mercuria Energy Trading has a total of 1001 employees. Vitols Saddam connection does not seem to have hurt it in Iraq. We are keen to consolidate our culture before we could think about changing it. He has made a fortune. They sail as close to the wind as they possibly can legally, said an oil analyst who requested anonymity. We are taking a new approach for the fifth annual CSR report that we have prepared by Mercuria. The firms far-ranging industrial interests also include chemicals, forestry, ethanol, carbon trading and ranching. By Andy Hoffman and Chanyaporn Chanjaroen. Over the last 145 years, Cargill has grown from a single grain storage warehouse by an Iowa railroad to a behemoth of world commodities trade, straddling dozens of markets for food and other essential materials -- salt, fertilizer, metals. At its headquarters on Genevas poshest shopping street, traders and executives wear open-collared shirts, sweaters and jeans, a sharp contrast to the shirt-and-tie policies at more established firms. It has also dipped a toe in the upstream business. Critics, including the Russian opposition, put it simply -- Russias paramount leader helped businessman Gennady Timchenko create the Gunvor oil trading empire, which saw a spectacular rise in the past decade when Putin was president and then prime minister. Glencore has long made its fortune by working on the fringes and in areas where few others dared. One of their secrets: filling the empty barges headed home. They have some superstars but mostly a lot of team players -- what I would describe as well grounded, fundamental traders.. Hin Leong made its name in the hard-fought Asia fuel oil and distillates market over 20 years ago, and is arguably the largest independent distillates trader in Asia, regularly mounting successful trading plays in the Singapore market. With African investors Helios Investment it recently paid a billion dollars to buy Shells fuel marketing operation across 14 West African countries, keeping the Shell branding. See Marco Dunand's compensation, career history, education, & memberships. Founded in 1988 by Japanese trading giant Mitsui Inc., it was sued in 2000 by independent US refiner Tosco for allegedly conspiring to jack up prices of European benchmark Brent oil by cornering part of the North Sea physical crude market. Mercuria Energy Group Ltd is a Cypriot-domiciled French[1] multinational commodity trading company active in a wide spectrum of global energy markets including crude oil and refined petroleum products, natural gas (including LNG), power, biodiesel, base metals[2] and agricultural products. Co-founder and Chief Executive Officer Marco Dunand, co-founder and President Daniel Jaeggi and Mercuria's global head of trading Magid Shenouda control the stake through a Guernsey-registered company called MDJ Oil Trading Ltd. ChemChina Stake In April Noble appointed Li Rongrong, former chairman of the state-owned assets supervision and administration commission of China, as a non-executive director. The three top executives at Mercuria have increased their holding in the Swiss-based commodity trader since the start of the year, according to a filing with US regulators. On the world oil markets the name Vitol is as familiar as Exxon is at the petrol pump. A spike in world food prices in 2007 stirred an outcry against the largest grain trading firms; when oil prices surged to a record $147 a barrel in 2008, U.S. Congress probed the role of oil trading firms, but found no smoking gun. [11], Its subsidiaries include Navitas Energy in Canada[12] and Vesta Terminal Services in Europe,[13] which operates port logistics, storage and processing facilities in the Netherlands, Estonia, Belgium, and Germany. Dunand and Jaeggi first met studying economics at the University of Geneva in the late 1970s. A Trafigura-chartered tanker was intercepted in the Caribbean in 2001 on suspicion of carrying illegal volumes of Iraqi crude. J+S denied any wrong-doing and suggested the investigation was politically motivated. The companys deal with Libyas rebels was a gamble. The business has grown to 890 employees in 28 countries with a turnover at $75 billion, trading almost 120 million tonnes of oil, coal and gas. Marco Dunand and Daniel Jaeggi, both Swiss, have worked together closely for more than 25 years in a string of commodities companies, buying and selling crude and oil products in many of the hottest oil trading outfits: Cargill, Goldman Sachs J.Aron, Salomon Brothers Phibro and Sempra. Vitol also discreetly supplied Libyas rebels with $1 billion in fuel, Reuters has learned -- supplies they desperately needed to advance on Tripoli. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. In two decades of oil trading, Dunand and Jaeggi built fearsome reputations for seeing profit margins where others could only see potential losses. Dunand, chairman and chief executive, and Jaeggi, head of global trading, used Mercuria to expand their trading base from crude and oil products. We have a daily sales report from every corner where we operate and if we see sales slowing over a few weeks, we get to know the changing trend before others, one employee said, on condition of anonymity. Benoit Lioud, a Mercuria spokesman, declined to comment on talks with JPMorgan. When it comes to his critics, Vladimir Putin is a heavyweight puncher. From the 43rd floor of a Rotterdam skyscraper, staff members can look out over a network of rivers toward some of Europes biggest refineries. But to involve Mr Putin and any of his staff in this dialogue is speculation, he added. But by the end of April, a U.S. Treasury directive authorized the Vitol transactions. What matters is that the group and its name survive, she said. [18] The Miami, Florida-based MGM International Group is a developer of international projects to reduce greenhouse gas emissions. The CEO sometimes flies to speaking engagements with no entourage. Its early dealings with the Libyan rebels may offer the chance of a foothold in Libyas oil and gas territory. But Mabanaft has also gradually opened offices in Singapore and the United States and, in the summer of 2010, a representative office in India. The company, which went public 10 years ago, realized early that rising incomes in Asia could be fed by Brazil and Argentina, two of the last remaining countries with new farmland left for crop cultivation. The firms now controlled by the western-backed rebels might still legally be linked to Libyas national oil corporation. In the wake of Glencores listing this year, there is interest in another big trading house going public; investors want exposure to long-term demand for commodities. Investors say he might already have his sights set on Brazil, to strengthen his position in the global sugar market. It hasnt been determined whether Blythe Masters, who has led the JPMorgan unit since 2006 and orchestrated the buying spree, would join Mercuria, a senior executive at Mercuria said. A management shake-up this year at Frances most popular football club, Olympique Marseille, offers more proof of Margarita Louis-Dreyfus determination to defend her husbands legacy and impose hard financial choices. Driven by the rise of Brazil, China, India and other fast-growing economies, the global commodities boom has turbocharged profits at the worlds biggest trading houses. Check if your We have to increase food production by 50 percent by 2030, and 80 percent by 2050, with our hands tied behind our back, he said, referring to constraints to boosting output such as the lack of land, water and infrastructure. But ADMs reputation has endured a black eye or two over the years. While Vitol would not comment, industry talk has it that none of its senior employees, including CEO Ian Taylor who joined from Shell in 1985 or long-timer Bob Finch who heads Vitols coal business, holds more than 5 percent of the company. They have the most talent, the deepest pockets, and the best risk management.. WHO: Cargill, founded 1865 by William Wallace Cargill at the end of the U.S. Civil War, WHERE: Minneapolis, Minnesota WHAT: Grains, oilseeds, salt, fertilizers, metals, energy, TURNOVER: $108 billion (2010) CEO: Greg Page STAFF: 130,000. Citing concerns over potential shortages and rising bread prices, Kiev had placed export quotas on cash crops and temporarily stopped granting export licenses for corn, wheat, barley and other grains. With more trading companies trying to gain an edge by owning businesses that produce, store or process commodities, Mercuria followed suit. Mercuria also differs in tone. In a May interview with Reuters, Fredriksen refuted the charges and shot back that maybe they (U.S. regulators) are trying to get some revenge for the 2010 BP oil spill in the Gulf of Mexico. The talks with JPMorgan forced Mercuria to put another deal on hold. MARCO DUNAND, CEO OF MERCURIA ENERGY TRADING. I have known the citizen Timchenko for a very long time, since my work in St Petersburg, Putin told a group of Russian writers. No suggestions of wrong-doing were leveled against Dunand or Jaeggi. But there was one lesson that Rich must have cut short: how to avoid jail. Public and regulatory attention usually rises with prices. The discussions with SDIC were halted once Mercuria neared the JPMorgan business, one of the people said. Cargill, as well as fellow U.S. commodity trading firms Bunge and ADM, agreed to undertake a public relations effort with the goal of creating a political problem for the Government of Ukraine, according to a 2007 diplomatic cable by the U.S. ambassador to Ukraine that was obtained by WikiLeaks and made available to Reuters by a third party. In its early days it profited by opening a trade route shipping Russian crude to China from Gdansk, Poland. [25][26][27][28], In 2020, Mercuria had its best year ever, earning $786 million with revenues in line with commodity prices to about $85 billion. Last year he surprised the market when he trumped Chinas Bright Food in a $1.5 billion deal to buy Australias Sucrogen.

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