Moves: Singapore-based Peter Tse leaves commodities trading house MRI

CWT International

22/07/2020 11:57

July 22 (Reuters) - Singapore-based Peter Tse, who was
managing director for Asia Pacific at MRI Group Pte Ltd,
resigned at the end of June, he told Reuters.
    Tse left MRI Group Pte Ltd due to its oil desk closure and
its metals business being transferred to MRI Trading AG, a
spokesperson at CWT told Reuters on Wednesday, while declining
to be named.
    Tse had joined MRI in China in 2012 before moving to
Singapore in 2014. Prior to that he worked at Trafigura in
China.
    Last year in June, MRI put its Singapore-based metals
trading and logistics units up for sale, and in December it shut
its oil and oil products as well as its LPG trading desks.
 urn:newsml:reuters.com:*:nL8N23J0XV urn:newsml:reuters.com:*:nL4N29D35C
    MRI Trading AG and CWT International did not respond to
requests for comment.
    Singapore-based MRI Group Pte Ltd and Zug-based MRI Trading
AG are wholly owned subsidiaries of Singapore-based CWT Pte.
Limited.
    CWT Pte Limited is a wholly owned subsidiary of CWT
International Limited  0521.HK , a unit of China's indebted HNA
Group Co Ltd  HNAIRC.UL .
    CWT is a London Metal Exchange-registered warehousing
company that in 2011 bought marketer and trader MRI Trading AG.
MRI was started by oil and metals trader Marc Rich, who
ultimately went on to found global trader Glencore  GLEN.L .

 (Reporting by Shivani Singh; Editing by Hugh Lawson)
 ((ShivaniSingh2@thomsonreuters.com; +861056692115; Reuters
Messaging: shivanisingh2.thomsonreuters.com@reuters.net))