STAMFORD, Conn., Aug. 1, 2016 /PRNewswire/ -- Phibro, an independent commodity merchant company, today announced that it has appointed Joseph Delaney as Chief Financial officer and Martin Mitchell as Chief Operating Officer, both will be partners in the firm and together they have more than 50 years of relevant experience.
"We are pleased to have been able to bring such highly qualified professionals into the roles of COO and CFO," said Simon Greenshields, President and Chief Executive Officer of Phibro. "Given the rapid growth of our business we concluded that hiring seasoned and highly regarded professionals for these two critical roles was a priority. I have known both Joe and Martin for many years and welcome the expertise and integrity that they bring to their roles. They were instrumental in helping to build Morgan Stanley's commodities business and will be similarly valuable as we continue our mission here at Phibro."
Mr. Delaney commented, "Partnering with Simon and the team he has put together at Phibro is both a pleasure and an honor. The firm's dynamic, entrepreneurial approach to creating value in the commodity markets is unique in the marketplace."
Mr. Mitchell stated, "The current market environment, where many participants are retreating while there is ongoing volatility across several markets, is uniquely suited to Phibro's business model. I look forward to leveraging my experience and working with Simon and the rest of the Phibro team."
Mr. Delaney will lead the Company's finance and treasury department. Mr. Delaney previously co-founded Waterville Capital LLC. He was a Founding Member, Managing Director, and Portfolio Manager of the multi-strategy hedge fund, Old Lane, LP. Prior to Old Lane, Mr. Delaney worked for Morgan Stanley & Co. for 16 years, most recently serving as a Managing Director responsible for U.S. Power Trading. He earned a B.Sc. from Villanova University, a M.Sc from the London School of Economics and a M.B.A. from the University of Chicago.
Mr. Mitchell will supervise the firm's operations, including information technology. Prior to Phibro, he spent 23 years at Morgan Stanley, most recently serving as Chief Operating Officer for the global commodities group and also served on the Global Commodities Management Committee. During his tenure at Morgan Stanley, Martin previously headed all physical scheduling and the logistical oversight of physical commodities.
Phibro is an independent commodity merchant company focused on asset acquisition, project development, and trading. Its principals have deep expertise across commodities including oil and oil products, natural gas, natural gas liquids (NGL), electricity, renewable fuels, fertilizer, and coal. Founded in 1901, Philipp Brothers (or Phibro as it became known) had a long heritage of innovation in the commodities markets. The business was a pioneer in the development of liquidity and prince transparency in the global commodity markets. It operated in the US since 1915. For more information about the firm, its current operations, and its history please visit www.phibro.com.
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