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Freepoint Commodities has made several further hires in Greenwich, Conn., and London as it looks to build an oil-trading business.
Bill Davidson and Jeremy Weil are joining Freepoint from Glencore as co-heads of its oil gathering & distribution group.
Davidson joins Freepoint this week and will focus on arbitrage opportunities in the growing domestic oil production boom, says a source.
From 2006-2010, he scheduled crude oil, gasoline, and distillates for Glencore in Stamford, Conn., and from 2011, was a business development analyst on Glencore’s crude oil desk.
Weil joined Freepoint last week after two years at Glencore and three years at J.P. Morgan.
Separately, Nik Domanski, an oil trader at Bank of America Merrill Lynch in London, will join Freepoint’s London office in July as an oil trader, specializing in North Sea crude oil. He left BAML last week after five years at the bank. He previously spent a decade trading crude at BP and before that worked for Neste Petroleum in London.
Meanwhile, Aaron Markley joined Freepoint in February as crude oil trader. From 2006-2011, he was the global lead crude oil strategist and head of global oil market analysis at BP in Chicago. He also spent 14 years at Cargill as an energy trading manager.
Lastly, Lou Santore joined Freepoint early last quarter as managing director of global oil operations. He previously spent two years at Noble Group in Stamford as director of operations and before that was senior v.p. of operations at Sempra Energy Trading and RBS Sempra Commodities.
Last month, Brian Cumming, a managing director within Deutsche Bank’s commodities group in New York, resigned to join Freepoint as head of a new structured commodity finance business.