Phibro LLC
9 West Broad Street, Stamford, Connecticut, United States

Phibro is a Commodity Merchant Company focused on physical trading, asset acquisition & development, optimization and structuring.Phibros strategy is based on a proven track record of combining market insight, disciplined risk management and strong client relationships to exploit attractive relative value opportunities. 

History

Founded in 1901 by Julius & Oscar Philipp, this prototypical commodities trading house has developed an entrepreneurial approach to capitalizing on physical market dislocations.

• 1901 Founded by Julius Philipp in Hamburg, Germany

• 1909 Julius and Oscar Philipp open the London office at 118 Leadenhall Street

• 1915 Philipp Brothers open NY office at 29 Broadway

• 1942 Retained by the US government to assist in the acquisition and development of strategic mineral reserve

• 1960 Phillip Brothers merged with Minerals and Chemicals Corporation of America (MCCA) and becomes publicly traded

• 1967 Philipp Brothers/MCCA merged with Engelhard Minerals and Chemicals (EMC)

• 1969 Anglo American purchases a controlling interest in EMC

• 1981 Phibro acquired Salomon Brothers for $550MM

• 1988 Phibro becomes the largest independent oil refiner in the US

• 1998 Through the Citigroup / Travellers Merger, Phibro became the commodity trading subsidiary of Citigroup

• 2009 Phibro is sold to Occidential Petroleum

• 2016 Phibro is purchased by Energy Arbitrage Partners, a firm founded and controlled by Simon Greenshields

From its humble origins in Hamburg Germany through its first incorporation and opening of Philpp Brothers London in 1909, Phibro (as it became known) expanded rapidly. The business established itself as the prototypical London commodities trading house and developed a flexible and entrepreneurial business model that evolved to capitalize on the opportunities that existed at the time.   The firm was an early pioneer in the development of liquidity and price transparency of the global commodities markets. Recognized as such, in 1942, the US government retained Phibro to assist it in the acquisition and development of a strategic metals reserve. In the early years the majority of the Firms activity involved the trading marketing and processing of metal ores and concentrates.    Phibro also expanded aggressively into other products including oil, refined products, chemicals and fertilizer. The Firm subsequently developed a related asset strategy designed to strengthen its increasingly important role as the worlds largest Commodities trading company. In 1988 Phibro became the largest independent oil refiner in the US.  In 1981, Phibro aquired Salmon Brothers and in 1998 the Firm became a subsidiary of Citigroup.  In January 2016 Phibro was acquired by Energy Arbitrage Partners (EAP).  Today, Phibro is an independent firm headed by Simon Greenshields (CEO).

Experienced Team

• Phibro is headed by CEO and CIO Simon Greenshields, a prior member of Morgan Stanleys Management Committee and co-head of Morgan Stanleys (MS) Commodity Division.
• Earlier in his career at MS, Mr. Greenshields ran and or founded several market leading business lines including North American Power and Gas and Global Oil Trading.
• The experienced management team is comprised of other senior Morgan Stanley Commodity veterans including: Joe Delaney CFO, and Tom Funk Head of Trading and Marketing.
• Mr. Greenshields and his team helped build and run the #1 ranked* wall street Commodity business, generating annual revenues of over $3 Billion. * Cumulative Risk Magazine Rankings

Commodities Merchant Investing

• Phibro has developed and is continuing to grow a commodity merchanting platform via investments in a series of specialist Portfolio Companies (PCs). these companies conduct activities within certain commodity sub-sectors (e.g. Renewable fuels, gasoline blending and distribution, power and gas etc.
• Activities include: the provision of supply and offtake agreements, relative value transactions that profit from dislocations in regional pricing, and the acquisition and optimization of undervalued commodity assets.
• Each PC leverages the power of the Phibro name and franchise
• The Phibro Management Team has established risk monitoring and risk management policies and procedures that the PCs are required to follow.