Key Takeaways
- • HilltopSecurities launched HTS Commodities, a new division adding 19 commodities professionals across Texas and Tennessee, per a Business Wire press release dated August 2, 2021.
- • The new division more than doubles the size of the firm's existing commodities desk, which previously comprised seven professionals in Plano, Texas.
- • HTS Commodities will offer commodities and futures trading across livestock, grains, cotton, energy, metals, U.S. market indices, and U.S. and foreign currencies, plus risk management, hedging, and wealth management services.
- • The division is co-headed by Richard Konkel and Jerome Gaudry, each with over two decades of banking, commodities, and financial engineering experience.
- • Management says the division will expand into other geographic regions, targeting farmers, ranchers, producers, consumers, and investors.
Summary
Hilltop Securities Inc. (HilltopSecurities), a Dallas-headquartered full-service investment bank and registered investment adviser, announced the launch of HTS Commodities, a new division expanding its commodities brokerage and trading business, according to a Business Wire press release. The division consists of 19 commodities professionals based in Texas and Tennessee, including nine in Amarillo and three in Memphis who joined the firm on July 30, 2021.
Leadership is structured across regions. Managing directors Brock Thompson and Will Snead serve as co-heads of the central plains region from Amarillo, while Lewis Williamson and Marvin Coleman serve as co-heads of the mid-south region from Memphis. They join a legacy team of seven commodities professionals in Plano, Texas. The overall group is co-headed by Richard Konkel and Jerome Gaudry, each with more than two decades of banking, commodities, and financial engineering experience. Thompson co-founded TRU Trading, LLC in Amarillo, whose nine employees joined HilltopSecurities, and Williamson previously served as senior vice president at Morgan Stanley, while Coleman joined from Morgan Stanley as senior vice president and commodity futures specialist.
Hilltop Securities CEO Brad Winges described the launch as "another important step in HilltopSecurities' growth plan," adding that the firm intends to expand its product offerings to farmers and ranchers in the United States. The division plans to cover livestock, grains, cotton, energy, metals, U.S. market indices, and U.S. and foreign currencies, alongside commodities consulting and customized hedging strategies for producers, consumers, and investors. The company said the recent hires more than double the size of its existing commodities desk, with further growth planned in other geographic regions.
HilltopSecurities is a wholly owned subsidiary of Hilltop Holdings Inc. (NYSE: HTH). The press release includes forward-looking statements regarding expected growth and product expansion, which are subject to the risks described in Hilltop's most recent Form 10-K.
Leadership is structured across regions. Managing directors Brock Thompson and Will Snead serve as co-heads of the central plains region from Amarillo, while Lewis Williamson and Marvin Coleman serve as co-heads of the mid-south region from Memphis. They join a legacy team of seven commodities professionals in Plano, Texas. The overall group is co-headed by Richard Konkel and Jerome Gaudry, each with more than two decades of banking, commodities, and financial engineering experience. Thompson co-founded TRU Trading, LLC in Amarillo, whose nine employees joined HilltopSecurities, and Williamson previously served as senior vice president at Morgan Stanley, while Coleman joined from Morgan Stanley as senior vice president and commodity futures specialist.
Hilltop Securities CEO Brad Winges described the launch as "another important step in HilltopSecurities' growth plan," adding that the firm intends to expand its product offerings to farmers and ranchers in the United States. The division plans to cover livestock, grains, cotton, energy, metals, U.S. market indices, and U.S. and foreign currencies, alongside commodities consulting and customized hedging strategies for producers, consumers, and investors. The company said the recent hires more than double the size of its existing commodities desk, with further growth planned in other geographic regions.
HilltopSecurities is a wholly owned subsidiary of Hilltop Holdings Inc. (NYSE: HTH). The press release includes forward-looking statements regarding expected growth and product expansion, which are subject to the risks described in Hilltop's most recent Form 10-K.
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