May 5, 2003

Cargill Expands Services to Hedge Funds

LONDON (HedgeWorld.com)--Cargill Investment Services has hired a team from Lehman Brothers International to further its asset class capability in the firm's work with hedge fund clients.

The team, which will join officially in June, will be lead by Les Allan, who was managing director equity hedge fund sales for Lehman Brothers International. The team of 10 mainly will be based in London, with some officials working out of the New York and Singapore Cargill offices.

The new hires will help Cargill expand its capabilities in futures, options and foreign exchange services. This expansion effort has been ongoing, as Cargill officials have invested in operations infrastructure to give their customers 24-hour execution and reporting services. Global teams have also been set up to meet hedge fund customer needs.

"Our decision to move further towards a more complete product offering is demand driven," James Davidson, Cargill Investment Services president, said in a statement. "Institutional and hedge fund clients are increasingly emphasizing the ability of suppliers to deliver multi-asset class product coverage."

Cargill Investment Services handles futures trading for hedge fund and commodity trading advisers. The firm is the global futures, options and risk management brokerage arm of Cargill Inc., which distributes agricultural, food, financial and industrial products worldwide.

SBarreto@HedgeWorld.com

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