STAMFORD, Conn., Feb. 21, 2017 /PRNewswire/ -- Freepoint Commodities LLC ("Freepoint"), a global commodities merchant trading house, today announced its expanded presence in the Asia-Pacific region. The initiative, the latest in a string of new ventures Freepoint has announced over the past six months, positions the firm to take advantage of opportunities it sees in the Asian metals, oil and agricultural markets.
"The decision to expand our presence in Asia was a logical next step in our business growth strategy," said David Messer, CEO of Freepoint. "Asia in general, and China in particular, are integral to commodity markets, and we continue to demonstrate our commitment to the region through ongoing investment and product expansion."
According to Rob Peck, Freepoint's Global Head of Oil, "Asia continues to be the world's largest oil demand region and leader in terms of the world's demand growth. By adding an experienced Asia oil trading team led by Ouyang Xiuzhang and Khoo Teng Siong, we are confident we can better serve our clients in Asia. This is a terrific complement to Freepoint's existing oil business in the Americas and Europe."
Freepoint has added seventeen hires in Singapore and eight in Shanghai during Q4 2016 and January 2017. The additions bring the total number of Freepoint employees worldwide to over 350, spread across fourteen cities in six countries.
"Freepoint has provided customers with a metals offering since it acquired the metals and concentrates business from JP Morgan in 2012," stated Philip Bacon, Head of Freepoint's Metals and Concentrates business. "China represents half of the world's metals demand. We are confident that adding the Shanghai-based refined metals team led by Ouyang will allow us to provide deeper and broader services to our clients in China and globally."
Freepoint's strategy centers on client service, and the firm consistently adds value by leveraging its global reach to solve its clients' critical needs.
"Engaging key partners and creating enduring relationships has always been a hallmark of Freepoint's business – a holdover from the management team's history at Sempra Energy Trading. In keeping with this history, Freepoint is committed to its expansion in Asia and is continuing to build long-term partnerships with its clients in the region," said Ouyang Xiuzhang, CEO of Freepoint's Asia business.
About Freepoint Commodities LLC
Founded in 2011, Freepoint is based in Stamford, CT with over 350 employees worldwide. Freepoint is a merchant of physical commodities and a financer of upper and mid-stream commodity assets. Freepoint also provides physical supply services and related structured solutions for counterparties. Freepoint is owned by private equity funds managed by Stone Point Capital, members of Freepoint's management and senior employees. More information about Freepoint can be found at http://www.freepoint.com.
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SOURCE Freepoint Commodities LLC