The Chicago Brokerage Chasing Clients Wall Street Left Behind
- R.J. O’Brien looks to target smaller to mid-sized energy firms
- Sees natural gas as opportunity due to higher volumes, exports
Chicago,
Photographer: Scott Olson/Getty Images North AmericaThis article is for subscribers only.
R.J. O’Brien & Associates LLC is adding staff in offices from Houston to London, in a bid to expand its energy offerings even as major players retreat from commodities amid lackluster profits and increased oversight.
The Chicago-based firm, one of the oldest and largest independent futures brokerages and clearing firms in the United States, is leaning on Joe Raia to grow its energy portfolio. The former head of global commodity futures sales at Goldman Sachs Group Inc. has already hired a couple of people for the energy team, composed of roughly 20 people across New York, Houston, London and Dubai. More hiring is to come, Raia said, without providing numbers.