May 15 (Reuters) - Citigroup Inc's director of oil
trading in Houston has left to join commodities trader Noble
Group Ltd, a source familiar with the matter said on
Michael Paradise is set to begin trading crude oil for Noble
in July, although it was not immediately clear what his new
title would be.
Paradise has been at the Wall Street bank's trading desk for
the last four years, having previous stints at Constellation
Energy, Duke Energy, BNP Paribas and Enron, according to his
Singapore-based Rob Biro, Citigroup's global head of oil
trading, resigned in March.
Citigroup is trying to increase its commodities footprint,
with plans to move into trading physical Canadian crude oil
after a number of Wall Street banks have backed off from the
physical commodity business.
Noble Group did not immediately respond to requests to
comment. The story was first reported by SparkSpread.com
Last year, JPMorgan Chase & Co's head of global oil
trading, Jeff Frase, was said to have left the bank to run
Noble's oil business.
(Reporting by Catherine Ngai; Editing by David Gregorio)