NEW YORK, July 29 (Reuters) - The head of Americas
gasoline for French energy major TotalEnergies' trading arm,
Atlantic Trading & Marketing Inc, has left the firm to join a
hedge fund, three sources familiar with the matter told Reuters
on Tuesday.
Gregory Galimberti, a veteran U.S. gasoline trader who spent
nearly eight years at ATMI, resigned from his position in recent
days to join Verition Fund Management, a Greenwich,
Connecticut-based hedge fund, two of the sources said.
The sources requested anonymity to discuss confidential
personnel moves.
Galimberti did not immediately respond to a request on
LinkedIn for comment. TotalEnergies, ATMI, and Verition also did
not immediately respond to requests for comment.
Galimberti had been manager of light fuels such as gasoline
and naphtha for the Americas at ATMI since January 2020,
according to his LinkedIn profile. Prior to joining ATMI, he
worked at rival trading firms Mercuria Energy and Glencore, his
profile showed.
Commodities traders have reaped record profits in recent
years, riding a wave of volatility injected into the markets by
Russia's 2022 invasion of Ukraine. That has renewed interest in
the sector from hedge funds and other financial speculators.
Verition, founded in 2008, has grown rapidly in recent years
and bolstered its ranks by adding senior traders across its
various focus areas, like equities, credit, and fixed income.
The hedge fund had around $12.5 billion in assets under
management as of April, according to public records.