Goldman Sachs hired traders from Glencore and hedge fund Moore Capital Management as the bank seeks to rebuild its bulk commodities team following a string of departures, according to people familiar with the situation.
Bloomberg News reports that the investment bank has recruited Espen Aaboe from Moore Capital and Brian Koizim from Glencore to trade coal and iron ore, according to the people, who asked to not be identified because the information hasn’t been made public. Both will start in London at a later date.
The hires are a sign that Goldman Sachs is rebuilding its presence in the coal, iron ore and freight markets after it lost its top coal traders earlier this year and sold assets. Peter Bradley and Spencer Sloan were among traders who left the bank in January to form their own coal trading company, Javelin Global Commodities Holdings, with support from German utility EON SE and U.S. coal producer Murray Energy.
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