Noble Group Ltd. hired former Trafigura Pte Ltd. executive Wael Amer to expand its Middle East and African oil-trading business as the Asian commodities firm restructures its operations. Based in Dubai, Amer will report to Middle East and Central Asia Chief Operating Officer Raj Kapoor as well as Global Head of Oil Liquids Jeff Frase, the company said Thursday in a statement. At Trafigura he was head of Middle East and African oil trading.
The creation of Amer’s position comes amid a shake-up of Noble’s executive ranks and a shift in focus after the Hong Kong-based firm faced scrutiny over its accounting. Noble is reallocating funds from units including copper and zinc trading to operations such as oil liquids to use capital more efficiently.
— Bloomberg
