Bear Stearns International last week unveiled its London Metals Exchange trading desk in New York with the appointment of Stephen Strutt and Marc Carozza.
The firm opened an LME desk in London two years ago, led by Steve Bingley and Robert Rees, and is now building the global reach of its LME business with the new U.S. desk and plans for a desk in Asia.
Strutt joins Bear from Sempra Metals Services where he was responsible for marketing LME brokerage services for all of North America. Carozza joins from Calyon Financial where he was floor manager, responsible for LME sales and New York Commodities Exchange pit execution in copper.
"We have been building our LME business in London for two years and have seen increasing demand from clients for a global platform, in particular from hedge funds and we have taken the business to the next level with some truly experienced hires,” Peter Williams, head of liquid product sales Europe, said.
“Sid and Marc are noted market professionals who are ideally suited to launching our U.S. desk and who bring valuable expertise to Bear Stearns' metals team."