Cargill Makes Ex-Jefferies Hire to Start Metals Trading
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Cargill Inc., the biggest closely held company in the U.S., hired the former head of metals trading at Jefferies Group LLC to begin buying and selling industrial-metal derivatives on behalf of risk-management clients.
Michael Frawley, who also previously worked at Newedge Group SA, is joining as managing director of global metals, said Anna Lovely, a Cargill spokeswoman. Minneapolis-based Cargill said yesterday in a separate statement it plans to apply for broker and clearing-house membership on the London Metal Exchange.