Sept 9 (Reuters) – Stamford, Connecticut-based trading firm Freepoint Commodities has hired Swiss mining and commodities giant Glencore (Xetra: A1JAGV – news) ‘s head gasoline trader to grow its refined products book, several sources familiar with the matter said Wednesday.
Farzad Askari will be based in Freepoint’s Houston, Texas office, sources said.
The trading firm has been expanding its North American trading operations in the past year, establishing new offices in Portland, Oregon and Calgary, Alberta, as well as adding traders to its already existing offices. The addition to the office in Houston is part of a larger strategy to expand its footprint in physical commodities.
Freepoint in February established a power trading desk in Portland, hiring two former PacifiCorp West Coast power traders to run operations. A month later the firm hired two traders to grow its newly established crude oil trading desk in Calgary.
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In March, the company hired a former Trafigura trader to trade fuel oil in Houston.
Freepoint did not immediately respond to a request for comment. (Reporting by Liz Hampton; Editing by Terry Wade and Phil Berlowitz)
