Aurex Insights: Bulk Commodities
April 2021



Aurex Group’s monthly snapshot for metals and bulks commodities highlights some of the factors and events influencing the industry for businesses and talent.


What are people talking about?

Jamie Miller will join Cargill as its first female CFO in 150 years. Her hire comes at a time where diversity hiring has been lauded. Will we see more females in senior roles at trading houses whose leadership teams are still predominantly male?

Three of Glencore’s top traders will exit the company in the coming months. Tor Peterson, the head of Coal Trading, Kenny Ives, head of nickel trading, and Nico Paraskevas, head of copper trading have confirmed their departures.

Glencore restructuring: trading units will be merged, yet the changes do little to address the lack of diversity in Glencore’s senior ranks. Will Nagle address this concern when he takes over the reins from Glasenberg?

Ng Yu Zhi, Director of Envy Asset Management (EAM) and Envy Global Trading has been charged for fraud involving at least $1 billion in non-existent forward nickel contracts. Neither of these firms was licensed by the Monetary Authority of Singapore and has been on its investor alert list since March of last year. Will this bring about stricter laws and increased punitive measures for trading businesses?

Mercuria bought $36 Million of Copper from Bietsan, a Turkish supplier last summer and found the containers full of painted rocks when the cargo arrived. Will such massive scale frauds against international trading start to become more common than we would like? How can international firms protect themselves further from falling victim to such crimes? Will hiring extra personnel related to the security of precious cargo mitigate such situations in the future?


What we are currently working on:

  • Physical Thermal Coal Trader, Shanghai
  • Group CFO – Chinese Trading House, Singapore
  • Head of Ferrous Broking, Singapore
  • Domestic Steel Trading Manager, Shanghai

If you are interested in any of these roles, please reach out to us via the contact details at the end of this newsletter.

Alternatively, click here for more jobs.


Diversity, The Backbone of Business

With the recent passing of International Women’s day, the spotlight has yet again come on diversity hiring. What exactly is diversity hiring? Diversity hiring is based on merit with extra care taken to ensure that the process is free from prejudice associated with a candidate’s age, race, gender, religion, sexual orientation, and other personal traits unrelated to how well they can do the job.

Companies that can effectively recruit and manage a diverse workforce have clear competitive advantages. Benefits of diversity hiring include increased creativity, a variety of different perspectives, higher innovation as well as better decision-making outcomes. Gender diversity for example is a good proxy for more general cognitive diversity which leads to better problem solving and outcomes. Further, having a more gender-diverse board brings about fewer governance scandals and issues.

Consequently, talent acquisition leaders, HR personnel, and recruiters are being tasked to increase workplace diversity. However, moving the needle seems to be at times a Sisyphean task with pipeline issues and unconscious biases interfering with hiring decisions. How then can companies effectively combat these issues and ensure having a diverse team? For starters, offering flexible working conditions will help to attract a diverse range of talent. Instead of inflicting punitive measures against women who choose to take time off to embrace the family route, offering flexible working arrangements might prove beneficial to all parties in the long run. Further, the reality is that it is far less painful on the wallet to retain capable talent than to constantly re-hire and re-train. On top of flexibility, other methods include choosing hires based on personality assessments, taking referrals from already diverse hires, undertaking blind resume hiring as well as relying on technological algorithms.

With regards to the commodities world, while there are some companies that display diverse leadership boards, there is still much work to be done. At Aurex Group, we have a dedicated team who are experts in tackling the critical elements of an inclusive organization – ie from hiring and retaining diverse talent to developing inclusive leaders to fostering inclusive cultures and creating unbiased talent management processes. We recognize that this is an integral aspect of any organization’s success and have the resources to help companies flourish in this direction. We welcome any discussions from senior leaders regarding this topic.

Market Moves



  • Yoven Moorooven has moved to Singapore as CEO Asia Pacific for ENGIE, previously based in Europe as CEO ENGIE Africa.
  • Zhao Luming has joined Huatai in Hong Kong as Director, Commodities Trading, FICC, previously SVP Commodities Market Development at HKEX.
  • Liu Yuqiao has joined Trafigura as a Nickel Analyst in Shanghai, previously working as an Analyst at SMM.
  • Wilson Song has joined IXM in Shanghai as Head of Iron Ore, previously VP Base Metals at CCI.
  • Nicholas Padgalskas has joined Summit Power International as CFO, previously Executive Director, APAC Energy at ABN AMRO.
  • Linda He has joined CITIC Global Trade Co in Shanghai as the General Manager, previously General Manager at Huayu Resources.
  • Lu Shen has joined Guojin in Shanghai, previously she was building a non-ferrous trading team at Yonggang.
  • Vivek Kumar has joined Trafigura as Co-Head of Supramax, previously Managing Director at Western Bulk.

I hope you enjoy our latest market insight for metals and bulks commodities. For a discussion around recent mandates, compensation, or other hiring trends, please do not hesitate to get in touch.


Alex Kerr

Associate Director
Natural Resources & Commodities

EA 18S9493 | R1328009


Level 15, 8 Lyndhurst Terrace

Central, Hong Kong

+852 3796 2621


708 Main St, 10th Floor

Houston, TX 77002


+1 832 532 2524


12 Marina View, #11-01

Asia Square Tower 2

Singapore 018961

EA 1859493

+65 3165 4450 


Level 32, 200 George St

Sydney, NSW 2000


+61 2 9159 0600