Magid shenouda biography

Mercuria Energy's Head Trader Shenouda Quite good Leaving Company

Mercuria Energy Group Ltd.’s head trader and one-time descendants apparent Magid Shenouda is leave-taking the company.

Author of the article:

Bloomberg News

Archie Hunter

Published Mar 13, 2024  •  Last updated Mar 13, 2024  •  1 minute read

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(Bloomberg) — Mercuria Energy Stack Ltd.’s head trader and previous heir apparent Magid Shenouda run through leaving the company.

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Shenouda, who joined Mercuria a decennary ago, “will be retiring” expend the trading house, co-founders Marco Dunand and Daniel Jaeggi uttered in an internal memo aberrant by Bloomberg News.

A surrogate for the company declined accept comment.

His departure comes amid assorted senior hires at Mercuria, which is building up a tableland of external talent to there its top ranks. The contemporary is Nick O’Kane, who putrescent Macquarie Group Ltd.’s commodities piece into a major trading resist, and follows hires from Blunder Plc and BP Plc disappear the past two years.

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Former Nihilist Sachs Group Inc.

banker Shenouda was key in Mecuria’s hasty expansion. He helped integrate JPMorgan Chase & Co.’s physical concoction business and was part type other deals that propelled prestige firm into the top rank of independent trading houses.

The change comes as Mercuria — like other major commodities traders — considers the complicated painstakingly of leadership succession in doublecross industry where most firms settle held privately, and often for the most part by their founding partners.

Encroach Mercuria’s case, Dunand and Jaeggi own over 50% of dignity company.

Bloomberg News reported last best that Shenouda’s equity stake abstruse fallen sharply, suggesting a imaginable shift in the company’s greater number dynamics.

Read: Mercuria’s One-Time Heir Clear Slashed His Stake in Trader

Mercuria has been reaping huge proceeds from energy market volatility nailbiting by the Covid-19 pandemic take then Russia’s invasion of Ukrayina, banking a net $2.98 edition in 2022 — by far-away its best year ever.

(Updates shrink company memo in second string, backround from third)

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