Cargill’s Head of World Trading Departs Firm After Three Decades

(Bloomberg) — Alex Sanfeliu, head of world trading at Cargill Inc., is leaving the top agricultural commodities firm after three decades, according to people familiar with the matter.

Geneva-based Sanfeliu, who started as a junior trader at Cargill in 1995, is departing for another opportunity, said the people, who asked not to be identified discussing private matters. He led a team handling trading in everything from corn to wheat and soybeans.

Cargill, the largest private company in the US by revenue, has been restructuring its business for more than a year. The company cut the number of business units to three from five and announced 8,000 job cuts. Several executives have also retired or changed roles.

A spokesperson for Cargill declined to comment.

It’s not clear where Sanfeliu is headed. He has held several roles in his 30 years at Cargill include senior soybean trader and corn world trading manager, according to his LinkedIn profile. During an appearance on the Strong Source podcast last year, Sanfeliu said he made a career in commodities “totally by chance.”

“The commodity world, I like the connection that you have between the cash markets and futures,” he said, adding that he declined the first job offer from Cargill because it would have required him to leave Barcelona. He later accepted a second offer from the company.

Net income at Minneapolis-based Cargill jumped 86% to $1.94 billion in the three months ended Aug. 31, with gains coming from businesses including cocoa and its Wayne-Sanderson Farms chicken joint venture, according to accounts seen by Bloomberg.

Cargill is the C in the ABCD quartet of agricultural commodity trading firms that dominate crop markets. The others are Archer-Daniels-Midland Co., Bunge Global SA and Louis Dreyfus Co.

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