Marex taps Dan Hofstad and Charlie Fee to take on soft commodities, protein, and energy industries

Rick Steves

Dan Hofstad will be at the helm of the North American OTC dairy business and Charlie Fee will bring additional depth to Marex’s well-established grain origination franchise.

Marex has opened an office in Minneapolis – where many major agricultural companies and large commodity risk managers are located – to serve as a central hub for commodity risk management.

To that effect, Marex has appointed long-time agricultural industry veterans Dan Hofstad and Charlie Fee to co-head the office and oversee further growth of its over-the-counter (OTC) agricultural offering in the U.S.

Hofstad and Fee will report to Kirk Bonniwell, Head of Agricultural OTC Sales for Marex North America. The new executives have previously worked at Cargill Risk Management, where Fee served as Managing Director, and both Hofstad and Fee will grow the team and build on the firm’s reach in the soft commodities, protein, and energy industries.

North American OTC dairy business and grain origination franchise

The Minneapolis office will drive further growth for the company’s listed and over-the-counter offerings, including structured products. It will operate as the launchpad for the company’s launch in the North American OTC dairy business, through Marex Solutions, the OTC arm of the company.

Dan Hofstad will be at the helm of the North American OTC dairy business, which will serve as a complement to the firm’s existing exchange-traded dairy products business.

Charlie Fee will bring additional depth to Marex’s well-established grain origination franchise with expertise on the consumer side of the market.

Ram Vittal, Chief Executive Officer of Marex North America, said: “We’re delighted to expand our business with another on-the-ground presence that puts us close to our clients as they navigate their risk management challenges. We continue to identify new opportunities to grow our franchise in North America and leverage the global breadth of products and services that Marex has to offer.”

Bonniwell said: “In addition to their product expertise, Dan and Charlie bring outstanding experience to our team, great insights into the talent and relevant businesses in the area and an appreciation for our focus on high-touch service and lasting client relationships. We look forward to building on the team in the region under their leadership and addressing the growing demand for these customized solutions.”

Throughout his 16-year career, Dan Hofstad has developed and implemented exchange-based and OTC hedging strategies in agricultural, dairy soft, energy and foreign exchange (FX) markets.

He joined Marex from Amius Limited, where he served as Managing Director, North America, and built out the OTC risk management business across commodity markets and industries. Before his nearly five years at Cargill Risk Management, he was at INTL FCStone (now StoneX) in London, promoting hedging practices in Eastern Europe and Black Sea markets for large export and import clients.

Charlie Fee also joined from Amius after spending 16 years at Cargill, having served as Managing Director in both firms.

Marex has recently expanded into Australia with the opening of a Sydney office.

Read this next

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading

Technology

DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.

<