(Bloomberg) -- Oliver Abela, head of agriculture trading at Gunvor Group Ltd., is retiring and won't be replaced as the company focuses on its main energy-trading business.
Abela, who joined Gunvor in 2010 to trade food-related futures and options, “had a good run and made a positive contribution,” company spokesman Seth Pietras said Monday by phone. Gunvor will no longer pursue the “non-core” agriculture business, he said.
Headed by Swedish national Torbjorn Tornqvist, Gunvor has sold the bulk of its Russian assets and is focusing on expanding its energy-trading and infrastructure operations. The company now owns three refineries in Europe and has opened a U.S. office to trade oil and energy products. The firm exited metals trading earlier this year.
Before joining Gunvor, Abela was a trader with Goldman Sachs Group Inc. and Cargill Inc. He declined to comment on Monday when reached by phone in Geneva.
To contact the reporters on this story: Andy Hoffman in Geneva at ahoffman31@bloomberg.net, Isis Almeida in London at ialmeida3@bloomberg.net. To contact the editors responsible for this story: James Herron at jherron9@bloomberg.net, Amanda Jordan, Dylan Griffiths
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