SINGAPORE (Reuters) - Citadel, one of the world's largest hedge fund managers, said on Thursday it had hired a former Glencore (OTC:GLNCY) energy derivatives trader to head its first commodities trading team in Asia.
Daniel Liu will join Citadel's commodities business in November as a portfolio manager, initially focused on oil and refined products, a company spokesman said.
"Daniel's team will be Citadel's first commodities trading presence in Asia," the spokesman said in an email, adding that Liu will be based in Singapore and aims for a team of four to five people.
The news comes after the Chicago-based hedge fund and Citadel Securities said on Monday they would open a new office in Singapore.
Liu was recently the head of Asia oil and liquefied natural gas derivatives trading for Glencore in Asia, having worked at Goldman Sachs (NYSE:GS) and Merrill Lynch after starting his career as an analyst at BP (NYSE:BP), his profile on the website LinkedIn (NYSE:LNKD) shows.
Glencore and Liu declined to comment.
(This story corrects to spokesman, not spokeswoman, in paragraph 2 and 3)