Marex Solutions, the OTC derivatives arm of leading commodity broker Marex Spectron, today announced the hire of Scott Shellady to focus on US Agricultural Commodity Sales and the launch of its dedicated US OTC hedging entity, Marex Spectron USA, LLC.
Since its launch in July 2017, Marex Solutions has developed a widely recognised OTC derivatives business that leverages modern technologies and innovative thinking. Today the business is over 60-strong, operates out of six countries and has completed over USD 7 billion of notional business.
Scott, who is based in Chicago and has almost 30 years’ experience in US agricultural trading circles, joins from TJM Europe, where he was Managing Director, and has also worked for Trean Group and Shellady Commodities, amongst other organizations. He is a well-known figure in the Chicago trading industry, where he is ‘The Cow Guy’ and is frequently seen on news channels wearing the trademark ‘Cow Jacket’.
Working alongside Scott on the US market is Nick Burke, who joined earlier this year from the SocGen Agricultural team to focus on US Agricultural Commodity Sales (announced in July). Together they will be leading the development of a comprehensive agricultural offering across the value chain, with Scott focusing on producers and Nick on corporate and institutional customers.
Expanding into the US market is a natural progression for the Marex Solutions business. The Marex Spectron group already has a long-established US broking business in its FCM Marex North America LLC, which since February this year has included Chicago-based Rosenthal Collins Group. The establishment of a separate entity for OTC hedging broadens the products and services that are available to the group’s US customers.
Eugene Faller, Head of Commodity Solutions at Marex Solutions, commented: “The launch of our new US arm is an exciting new development for our business and brings our class leading technology to a new customer base. The additions of Scott and Nick adds a huge amount of knowledge and agricultural hedging expertise in the US, and ties in well with the Marex Spectron and RCG agricultural franchises.”
