Tradition hires Warwick to head agricultural commodities desk

No proprietary trading planned

Tradition Financial Services Ltd., a broker of over-the-counter physical and derivative products, hired Tom Warwick to head its new agricultural commodities desk.

London-based TFS is starting the desk to broker deals in grains and the so-called soft commodities including cocoa and coffee, Mike Anderson, a managing director running the energy and commodities desks at the company, said in an interview at its office today. Warwick previously worked for companies including Refco Inc., MF Global Holdings Ltd. and JB Drax Honore (U.K.) Ltd.

“We will be dealing only with listed-derivatives for now and will be strictly broking,” Warwick said in the same interview. “There will be zero proprietary interest.”

TFS also hired Lee Hayward as a senior softs and agricultural commodities broker, Anderson said. Hayward previously worked for ED&F Man Holdings Ltd. and Man Group Plc.

Warwick and Hayward are joining the 600 to 700 brokers the company has in the London office, Anderson said. TFS deals with commodities including oil, power, gas, coal, emissions and biofuels.

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