Mercuria Energy Trading Inc.

Peaking inside one of the five largest independent energy and commodity groups in the world.

So who is exactly Mercuria ? Why they have become Texas’ premier crude marketer ?

Dunand and Jaeggi first met studying economics at the University of Geneva in the late *1970s. Their friendship was galvanized a few years later working for grain trader Cargill and sharing an apartment while on a training course in Minneapolis.

They left Cargill in 1987 for Goldman Sachs’s J. Aron unit in London. These experience have shaped the business and trading strategies of Dunand and Jaeggi who also worked at Phibro , Sempra energy before founding Mercuria in 04. “There are two schools in the commodity trade: The Marc Rich, Glencore and Trafigura school, which is obviously successful.

And then there is the investment banking school, which is more based upon a risk point of view.

Phibro is perhaps the only company that came with the father and mother of the various schools (Marc Rich had previously worked for Phibro which belonged to the U.S investment bank Salomon Brothers).

This is the environment in which we have learned”.*