Global financial services firm Marex has established a new office in Minneapolis. Following the move, the company has also added agricultural industry veterans Charlie Fee and Dan Hofstad to co-head the office. They are also charged with the responsibility of overseeing further growth of Marex’s over-the-counter (OTC) agricultural offerings in the U.S.

Fee and Hofstad together have 35 years of industry experience, which includes several years with Cargill Risk Management where the former served as a managing director. The two executives will be reporting to the Head of Agriculture OTC sales for Marex North America, Kirk Bonniwell.

According to Marex, the newly opened office will serve as a stepping stone for the establishment of other offices in the region. It will also be the center from which the OTC branch of the company, known as Marex Solutions, will introduce a new North American OTC diary business.

Marex Establishes Offices To Bring Customers Close

Chief Executive Officer of Marex North America, Ram Vittal, commented on the development. He stated that the company is excited about the new office, which brings it closer to its clients as they navigate their risk management challenges.

Vittal noted that the company keeps identifying new opportunities to grow its franchise in North America, leveraging the wide range of products and services offered by the company. He added that the company looks forward to addressing the growing demand for customized solutions for customers in the region.

Established in 2005, Marex is headquartered in London and has 22 offices worldwide. The global firm has more than 1,000 employees across the Americas, Asia, and Europe.

Charlie Fee To Bring Additional Depth

Charlie Fee’s role in the company will focus on providing more depth to the firm’s well-established grain orientation franchise. He comes with good knowledge of the consumer aspect of the market. According to Marex, both Fee and Hofstad will help to develop the team, expanding the company’s reach in protein, soft commodities, and energy industries.