Vitol will not replace banks in energy hedging, says CEO
Liquidity provision in energy derivatives markets is not Vitol's role, says the trading house's president and chief executive, Ian Taylor, despite the retreat of major investment banks from commodities
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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