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UPDATE 2-Ex-Dreyfus manager launches grain trader Sierentz in Moscow
December 26, 2017 / 8:27 AM / 21 days ago

UPDATE 2-Ex-Dreyfus manager launches grain trader Sierentz in Moscow

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MOSCOW/PARIS, Dec 26 (Reuters) - Trading house Sierentz Global Merchants registered a grain trading subsidiary office in Moscow on November 1 headed by the former Louis Dreyfus commercial director in Russia, Maxim Belyakov, a Russian government registry showed.

The Moscow-based firm is at least the third grain trading firm U.S. group Sierentz Global Merchants has launched in Europe since September after a head office in Switzerland late September and a branch in Ukraine early October.

Sierentz, parent of Sierentz Global Merchants, is controlled by members of the Louis-Dreyfus family, but distinct from the historic commodities giant Louis Dreyfus Company (LDC).

Several sources said in October that a group of ex-LDC traders who quit the company in August were planning to launch a new grain business in Switzerland initially targeting Ukraine, with one source pointing to Sierentz.

The ex-LDC traders, including former Louis Dreyfus Global Head of Grains David Ohayon, former head of Black Sea countries Cesar Soares and former head of Ukraine and Balkans Lamprakis Lazos, left without saying what they would do next, fuelling market speculation.

Lazos was appointed head of Sierentz Global Merchants Ukraine.

Russia, Ukraine and Kazakhstan form the Black Sea grain exporting region, one of the world’s largest. They ship wheat and corn in competition with the European Union, the United States and Australia to customers in the Middle East, Africa and Asia.

The Russian registry mentions that the passport of a “T. Schulz” was translated from French to Russian as part of the registration. It does not say whether it is the French national Thomas Schulz previously named administrator of Swiss-based Sierentz Global Merchants and its branch in Ukraine. (Reporting by Polina Devitt and Sybille de La Hamaide; Editing by Katya Golubkova, Gareth Jones and Peter Graff)

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