Archer Daniels Midland Company (ADM), a global agricultural processor and ingredients provider, has created a structured trade finance (STF) department to complement its commodity trading activities.

The company hired Olivier Boujol as global head of the department back in April, and he has since built a team of 11, with five people based in the company’s Emea headquarters in Rolle, Switzerland, and the rest in the US, Brazil, India and Singapore.

Boujol joined ADM from his chief financial officer role at Libero Commodities, and has 20 years of experience in commodity trading finance and risk management roles.

One of the latest recruits, Okan Dalanay joined the team on August 1 to be in charge of Emea origination. He has relocated to Rolle from Amsterdam, where he worked as head of syndication and loan trading at Amsterdam Trade Bank (part of Russia’s Alfa Bank), for the past three years.

He tells GTR that the newly-formed department will originate STF deals from emerging market banks and syndicate them amongst developed market banks, positively impacting the company’s bottom line and benefiting its commodity trading activities.

ADM sources and sells food ingredients, animal feeds and biofuels to food manufacturers around the world.