Chicago-based R.J. O’Brien & Associates (RJO), an independent futures brokerage and clearing firm in the United States, announced on Monday that Joseph B. Raia has joined its New York office as Managing Director, Global Commodity Futures.
Raia has a decades-long track record in futures and over-the-counter (OTC) markets as well as hedging/risk management and business development – with a specialty in global commodities and energy products – including in Managing Director roles at Goldman Sachs and Co., CME Group and the New York Mercantile Exchange (NYMEX).
In the new role, Raia is charged with building out RJO’s energy and metals clearing and execution business globally, in futures, options and cleared OTC products. This includes expanding the firm’s breadth and expertise in a wide range of energy and metals products.
Daniel Staniford, Executive Director in charge of RJO’s institutional business development in New York and London, said in a statement: “Joe brings outstanding experience to RJO and a history of innovation in his previous roles at industry-leading organizations. He is a great asset as we continue to build our institutional client base and services and as we seek to grow our presence on the energy and metals fronts.”
Raia most recently served as managing director and global head of Commodity Futures Sales at Goldman Sachs since 2011, where he helped build the firm’s relationships with a focus on commercial and institutional clients. Previously, he spent more than a decade as a futures exchange executive, initially with the New York Mercantile Exchange (NYMEX) and then with CME Group after it acquired NYMEX in 2008. From 1989 to 2011, Raia served in a variety of energy trading and risk management roles that ultimately led to his appointment by NYMEX to develop ClearPort.
RJO serves institutional, commercial and individual clients globally, in addition to a network of 400 introducing brokers.