ABC REFINERY TIGHTENS ITS HOLD ON PRECIOUS METALS MARKET WITH MAJOR EXPANSION OF ITS TREASURY AND TRADING TEAM
ABC Refinery announced the significant expansion of its Treasury & Precious Metals Trading capability with the recruitment of Joe Metcalfe as Treasurer (formerly Perth Mint Deputy CEO), Nishan Kodituwakku as Deputy Treasurer (former Perth Mint Deputy Treasurer) and Michael Dymock as Senior Trader (former Perth Mint Senior Trader).
This major expansion of ABC Refinery’s Treasury and Precious Metals Trading operation transforms it into one of the biggest and most experienced teams in the region, according to ABC Refinery Head of Trading, Mike Ward.
Mr Ward said the expansion underlines the commitment of Pallion, ABC Refinery’s parent to providing clients with the full suite of trading services globally.
“This will also significantly increase ABC Refinery’s share of the precious metals trading market in the face of surging global demand,” Mr Ward said.
ABC Refinery currently controls about 43 per cent of Australia’s gold and silver output as global economic and political uncertainty stoke demand for these safe-haven investments.
In the past twelve months alone, the price for AUD gold has surged by more than 30 per cent.
Pallion Chief Executive Officer Andrew Cochineas said the company was excited to welcome Joe, Nishan and Michael to the ABC Refinery team.
“These hires are fresh evidence of Pallion’s position as a market leader and an employer of choice in the global precious metals space,” Mr Cochineas said.
“This expansion of our precious metals trading and treasury team, in conjunction with Pallion’s unique vertically integrated model positions our group to deliver substantial benefits to the Australasian precious metals sector.”
Mr Metcalfe, Mr Kodituwakku and Mr Dymock will join a number of other former Perth Mint executives who have made the switch to ABC Refinery and the broader Pallion group, including the Perth Mint’s former Chief Operating Officer David Woodford, who is now Pallion’s Chief Commercial Officer.