Mercuria Energy Group, Ltd

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Mercuria Logo.jpg
Founded 2004
Headquarters Geneva, Switzerland
Key People Marco Dunand and Daniel Jaeggi, Co-founders
Employees 1000+
Products Energy Trading
Website www.mercuria.com

Mercuria is a Geneva, Switzerland-based trading firm focused on energy products and dry bulk commodities.[1] The firm was founded in 2004 by two former Wall Street oil traders, Marco Dunand and Daniel Jaeggi. In March 2014, the firm purchased JP Morgan's physical commodities unit for $3.5 billion.[2]

History

Dunand and Jaeggi, two veteran traders, founded Mercuria in 2004 after having worked together for over 25 years at various firms, including Cargill, Goldman Sachs' J. Aron division, Phibro (during the years when it was controlled by Salomon Brothers), and Sempra Energy.[3] According to the Wall Street Journal, the Dunand and Jaeggi were known as "Bambi and Godzilla" due to their good cop/bad cop routine on the trading floor.

After founding Mercuria with a capital infusion by the Polish oil firm J+S Group (a firm which was later raided by Polish authorities in an oil trading investigation), Mercuria quickly grew to become the world's fourth largest trading firm, with 2013 revenue topping $100 billion.[4] By 2014 the firm employed over 1000 people in 28 countries.

In 2014, Mercuria purchased JP Morgan's physical commodities unit in a deal valued at $3.5 billion.

Products and Services

Mercuria's first and primary activity is sourcing, supplying and trading crude oil and refined oil products. The company has since expanded its reach into biofuels, environmental products, natural gas and LNG, power, coal, iron ore, dry bulk commodities and agricultural products.[5]

Key People

References

  1. What Is Mercuria?. NY Times Dealbook.
  2. JPMorgan sells physical commodities unit to Mercuria for $3.5 billion. Reuters.
  3. J.P. Morgan Deal Cements Mercuria's Rise. WSJ.com.
  4. Behind the $100 Billion Commodity Empire That Few Know. Bloomberg.
  5. Our activities. Mercuria.