COFCO International, the Chinese multinational that acquired the Nidera grain trading operation has restructured its commodity trading operations by splitting its grains and oilseeds activities into separate divisions with immediate effect.
UK national Paul Bateson joins from Bunge, where he was managing director, global grains based in Geneva. As global head of grains at COFCO, he will oversee the company’s trading in wheat, barley and corn. Mr Bateson worked for Nidera in Rotterdam and South Africa between 1993 and 2006 before moving to Bunge.
At the same time, Marcelo Martins becomes global head of oilseeds, managing COFCO’s soy bean, meal, vegoil and softseeds businesses. He was previously managing director of the Europe, Middle East and Africa region since April 2017, after seven years managing Nidera’s interests in Asia from Singapore.
Selina Yang, who was previously global head of grains and oilseeds, is appointed to the new role of COFCO’s chief operating officer. Her remit is to ensure a seamless co-ordination between the company’s global product lines, seven key regions and freight operations.
All three executives will report directly to COFCO International chief executive Johnny Chi, who comments: “2017 was a year of integration, in which we worked hard to build a strong foundation for our business. We now begin 2018 with a solid organisational structure that reflects our priorities as a business and brings the right set of skills and experience to lead our development and growth for years to come.”
COFCO has also created a new global asset management team, led by Valmor Schaffer from a base in Sao Paulo, Brazil.