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A/S Global Risk Management has confirmed the appointment Michael Korsager Nielsen as senior oil derivatives trader at its office in Middelfart, Denmark.

Also, oil risk manager Nicholas Foo has transferred to the Unitrading team in Middelfart from Global Risk Management in Singapore. Unitrading is a separate business unit within Global Risk Management, focusing on optimising paper hedge prices.

Nielsen and Foo will form part of the trading team in Middelfart which is headed by Mads Hemmingsen.

"The two will assist the oil risk managers in Copenhagen, Singapore and Middelfart in their daily work with advising and selling customised fuel trading and risk management solutions. In addition, the team assists our parent company, Bunker Holding, in obtaining optimal paper hedge prices through increased trading flow with clients worldwide," Global Risk Management said.

Nielsen, aged 43, was previously employed as Global Head of Oil and Derivatives Trading at OW Bunker between 2012 and 2014. Prior to this, he worked as a senior foreign exchange (FX) trader at Nykredit Markets between 2008 and 2012, and as an FX trader at SPKS Bank between 2005 and 2008. He has a master's degree in economics from the University of Copenhagen.

Foo, aged 28, joined Global Risk Management in April 2014 and worked for the company's sales team in Singapore before relocating to join the trading team in Middelfart. His new job title is 'Trader'.

Managing Director Hans Erik Christensen remarked: "I am glad to welcome both Michael and Nicholas to the trading team; they bring experience and exceptionally good technical and analytical skills and I am confident that they will contribute to continued solid growth and expansion in our company."