UK shipbroking group SSY is bolstering its footprint in the commodities sector with the launch of a dedicated agricultural derivatives sales and execution business.
The London-headquartered outfit said the new desk of its SSY Futures commodities division will initially focus on grains, oil seeds and soft commodity derivatives.
The operation will be headed up by commodities veteran Andrew Rechten, backed by agricultural specialists Francois Churland and Owen Scrimgeour, who will also join the team.
Rechten has previously held senior roles at Merrill Lynch, JP Morgan and Macquarie, among others.
“As one of the leading players in commodity derivatives, it’s important that we continue to evolve our portfolio so our clients can access the widest possible range of commodities, said Jamie Pearce, partner and global head of SSY Futures.
With 24 global offices, SSY rebranded from Simpson Spence Young in 2023 after 143 years in the industry. The company’s Futures unit initially focused on the freight markets but later expanded into iron ore, coking coal, steels, base metals, battery materials and carbon.
