Case Study: A power team for Global Risk Management

Grm Logo

Eleven Team speciality chemicals, Clean Energy

A conversation regarding hiring an oil derivatives marketer led Eleven Recruitment to source four candidates together, establishing a new power trading team for Global Risk Management (GRM).

“Eleven have been recruiting in power trading since 2000. I doubt there are many that can say that! Working with Richard and Eleven Recruitment was a vital strategic move. As part of the process for transition, whereby GRM looks to succeed in a low carbon world, we’re ready to start 2020 with aggressive growth plans.” Hans Erik Christensen, former Managing Director, GRM.

Challenge

GRM’s background, as part of Bunker Holding is in oil hedging so power was a new market for the group. In 2019, GRM partnered with Eleven to establish a new power trading team based in Middelfart, Denmark.

A beautiful location, yet not considered a hub for attracting trading talent, Richard Tregarthen, Eleven’s Senior Consultant, had to attract the right calibre of candidate, whilst understanding how GRM directionally wanted to move forward.

“GRM had aggressive growth plans over the next 40 years to develop the product portfolio. Developing this to include power was a key part. Communications back and forth regarding starting this search led me to be convinced Eleven could find the ideal partner for us” stated Hans Erik. 

Strategy

Richard proactively reached out to his extensive network in power trading, making relevant introductions to Hans Erik. Key was to introduce individuals that had the knowledge and gravitas to advise senior players such as GRM’s Chairman and Managing Director.

GRM needed candidates that could help their management teams to develop the business on a strategic and tactical level; who could provide expertise and guidance and keep them informed on pertinent market trends that were relevant to the new venture. 

“It’s all about risk management and planning ahead, something we always recommend that our clients do when trading with us” said Hans Erik.

GRM’s long term goal was to be a dominant player in the power and gas (and emissions) markets.

“Richard took a very proactive approach to finding the relevant candidates. He skillfully provided GRM, and the candidates, with space to develop our ideas. I saw Richard, and indeed Eleven, as a trusted recruitment partner. By being open, with trust on both sides, the conversation and introductions continued to gather positively” stated Hans Erik. 

“It was clear that to grow and remain competitive, we needed to expand our offering to the market. Eleven’s experience and market knowledge in this area was key to success in placing a team, with an established track record and extensive experience.”

Results

By the end of 2019 Richard successfully placed the new power trading team of four. Eleven are not new to this process, recruiting teams since 2001. The new team brought an impressive business plan to the GRM board. During the process Richard continued to be a sounding board for the management team. And, in March 2020 GRM announced the team news, 

“Recently, the growth strategy has led to further extension of the product and services portfolio, making Global Risk Management a fully-fledged energy trading house. New products are e.g. natural gas, liquified gas, power trading and more to come.”

“The research team at Eleven provided useful insight into what makes a profitable desk. By bringing the team online together we saved time and cost in the process. I look forward to working with Eleven Recruitment again and again.”

Richard Tregarthen concludes, “Eleven’s experience regarding the culture of oil companies alongside experience of power trading recruitment, enabled a smooth transition for company and team. We look forward to continuing to support our clients with energy transition.”