Vitol will not replace banks in energy hedging, says CEO
Liquidity provision in energy derivatives is not Vitol's role, says Taylor
Vitol, the Switzerland-based commodity trading house, is not seeking to replace investment banks such as Goldman Sachs or Morgan Stanley as a provider of hedging products to corporate clients, said its president and chief executive Ian Taylor.
"We're not really thinking about that," said Taylor, in response to a reporter's question about Vitol's plans at the Platts Global Energy Outlook Forum in New York on December 11.
As banks have pulled back from commodities, Taylor said a "breach" had
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