MOVES-Head of Americas gasoline for TotalEnergies trading arm departs for hedge fund, sources say

By Shariq Khan and Georgina McCartney

NEW YORK, July 29 (Reuters) - The head of Americas gasoline for French energy major TotalEnergies' trading arm, Atlantic Trading & Marketing Inc, has left the firm to join a hedge fund, three sources familiar with the matter told Reuters on Tuesday.

Gregory Galimberti, a veteran U.S. gasoline trader who spent nearly eight years at ATMI, resigned from his position in recent days to join Verition Fund Management, a Greenwich, Connecticut-based hedge fund, two of the sources said.

The sources requested anonymity to discuss confidential personnel moves.

Galimberti did not immediately respond to a request on LinkedIn for comment. TotalEnergies, ATMI, and Verition also did not immediately respond to requests for comment.

Galimberti had been manager of light fuels such as gasoline and naphtha for the Americas at ATMI since January 2020, according to his LinkedIn profile. Prior to joining ATMI, he worked at rival trading firms Mercuria Energy and Glencore, his profile showed.

Commodities traders have reaped record profits in recent years, riding a wave of volatility injected into the markets by Russia's 2022 invasion of Ukraine. That has renewed interest in the sector from hedge funds and other financial speculators.

Verition, founded in 2008, has grown rapidly in recent years and bolstered its ranks by adding senior traders across its various focus areas, like equities, credit, and fixed income.

The hedge fund had around $12.5 billion in assets under management as of April, according to public records.