BofA LNG Traders in London Said to Be Moving to Noble in July

May 09, 2014 6:18 am ET

May 9 (Bloomberg) -- Two Bank of America Corp. liquefied natural gas traders will join Noble Group Ltd. in July, according to three people familiar with the situation, who asked not to be identified because the move hasn’t been announced.

Gabriel Gonzalez Laguna and Alejandro Sanchez Gestido will leave Merrill Lynch Commodities (Europe) Ltd. in June, two of the people said. Gonzalez Laguna, director of LNG trading and origination, and Sanchez Gestido, director of LNG business development, will start an LNG trading desk for Noble in London, the people said.

Gonzalez Laguna has worked at BofA for four years, while Sanchez Gestido has been there for a year, having joined from Noble, the people said. Saima Farooqi, a spokeswoman for BofA in London, and Stephen Brown, a spokesman for Noble in Hong Kong, declined to comment.

BofA said in January it would stop trading power and gas in Europe because of regulatory changes. Banks from Barclays Plc to Morgan Stanley also have reduced or closed trading desks over the past two years.

--With assistance from Mathew Carr in London.