Olam Expanding Grains Trading in Switzerland

April 26, 2016 05:50 AM
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Olam International Ltd. is expanding its grains trading in Switzerland after hiring an executive from Grupo BTG Pactual.

Carl Desjardins, who joined the company in Singapore in February, is moving to Nyon this month to lead Olam’s grains team in Switzerland, an international commodities hub, a spokeswoman for Olam confirmed Monday. Desjardins was previously global head of grains for the Brazilian bank’s commodity unit, which is being spun off and renamed Engelhart.

Olam is expanding its operations in grains after entering the market in 2008 and will move the one trader it already had for cereals in Geneva to Nyon, which lies about 27 kilometers (18 miles) north. The company focuses its grain activities in the Black Sea region and Africa and said late last year it would move into the feed business in Nigeria by making investments that include setting up poultry and fish-feed mills.

The trader, which focuses mainly on wheat, is “slowly building up" its business in products including corn, barley, sorghum, rye, flaxseed, chickpeas and soybean meal, according to Olam’s website. Earlier this year, it started a vegetable-oils desk in Rotterdam with hires from Glencore Plc.

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