Brazilian investment bank BTG Pactual has hired a former manager at Goldman Sachs' warehouse company Metro International as it expands its own metals storage business, sources with knowledge of the situation said. Warehousing marketing manager Gabriella Vagnini left Metro after six years earlier this month, to join BTG Pactual in a similar role, the sources said.BTG, controlled by billionaire financier Andr� Esteves, last year made a bold push into the global commodities trading and storage business just as other banks bowed out, betting it can avoid the regulatory pressure rattling rivals.The Sao Paulo-headquartered bank in August hired Shon Loth, a metals warehousing expert formerly with Noble, to build up its own storage business. More recently the bank has applied to register its warehouses with both the London Metal Exchange (LME), the world's biggest metal market, and with the U.S. exchange CME Group.It expects the LME to approve its first two warehouses, one in Detroit and one in Owensboro, United States, within a couple of weeks, the sources said.
CME Group Inc. (CME Group) offer a range of global products across all asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. Shares of CME traded higher by 1.64% or $1.245/share to $76.96. In the past year, the shares have traded as low as $58.36 and as high as $84.71. On average, 2012940 shares of CME exchange hands on a given day and today's volume is recorded at 2335145.
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