Steel Products
Clark, Kessler Join Flack Global Metals
Written by David Schollaert
April 12, 2022
Flack Global Metals (FGM) has hired risk management and hedging experts Brad Clark and Sean Kessler as directors of Flack Metal Bank (FMB).
The additions of Clark and Kessler will help expand FMB’s ferrous metals trading desk, improving risk management and hedging strategies to complement its customers’ current supply chains, the company said.
FGM launched FMB in 2021 to allow buyers of flat-rolled metal products to take advantage of pricing on the forward curve regardless of whether they secure physical inventory from FGM or maintain existing supply relationships.
“Adding Brad and Sean to our team illustrates once again our commitment to bringing the world’s top talent in metals hedging to FGM and FMB,” said Jeremy Flack, CEO and founder of FGM. “Brad and Sean will be instrumental in helping FMB devise new financial products for our clients to provide certainty in securing metals supply and pricing.”
Prior to joining FMB, Clark served as vice president of environmental products trading at Kataman Metals, where he developed trading in compliance and voluntary carbon markets. Before his tenure at Kataman, Clark was head of risk management at Big River Steel. He holds an MA in International Relations from University of Westminster, London, UK.
Kessler comes to FMB from CME Group, where he led its industrial and precious metals business as CME’s director of metals products. Kessler also served as a metals trader at Red Kite Group and ED&F Man Capital Markets, Inc. He holds a Chartered Market Technician® (CMT) designation, marking the highest education within the discipline and the preeminent designation for practitioners of technical analysis worldwide.
The latest move by Flack to boost its FMB offerings follows the addition of Keith Shuttlesworth as FMB’s executive vice president in late January.
FGM is a U.S. flat-rolled metals distributor, commodities trader and hedge fund.
By David Schollaert, David@SteelMarketUpdate.com
David Schollaert
Read more from David SchollaertLatest in Steel Products
CRU: Excessive global supply could hit rebar mill investments in US
Following the onset of the war in Ukraine in March 2022, concerns about import availability and expectations of rising demand from President Biden’s Infrastructure Bill pushed US rebar prices to record highs. In response, a flurry of new mills and capacity expansions were announced to meet the rise in demand from growth in the construction […]
Steel buyer spirits tempered by soft spot market conditions
Steel sheet buyers report feeling bogged down by the ongoing stresses of stagnant demand, news fatigue, tariff negotiations or implementation timelines, and persistent macroeconomic uncertainty.
CRU: US stainless prices to rise on expanded S232 tariffs
Stainless prices in the US market will rise, following price increases by major US producers. Our base case scenario incorporates higher US prices in the near term, despite the initial negative reaction by the market. US stainless prices will go up in 2025 H2 and will stay elevated in 2026 as tariffs on stainless […]
Galvanized steel demand unsteady amid lingering buyer fatigue: HARDI
Uneven demand for galvanized steel in June reflects a market that remains mired in uncertainty, according to industry sources.
OCTG industry salutes Customs for catching trade crooks
The US OCTG Manufacturers Association is commending US Customs for intercepting another Thai company's attempt to illegally transship Chinese oil pipe to the US.