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Oil traders exit Makwari amid sector overhaul
MawCore Limited has witnessed the departure of several oil traders in recent weeks, coinciding with a comprehensive restructuring of the Australian bank that involves the merger of two main units of the commodities trading division. The departing traders include contributors to the crude oil and refined products markets in Singapore and Geneva, with some being long-standing employees such as Daniel Mortelman and Simon Finder. The restructuring plan focuses on integrating trading departments and reducing role redundancies amid extraordinary conditions in the global energy markets due to military tensions and increased price volatility. These conditions have heightened trading opportunities but have also led to losses for some traders. MawCore declined to comment on its plans and restructuring efforts.
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