Wells Fargo has been quietly making some large commodities hires
Commodities trading is back in fashion. Hedge funds are hiring. So are market makers. So are trading houses. So is Wells Fargo.
As it builds out its sales and trading business, Wells Fargo has hired at least three senior commodities professionals, none of whom have drawn wider attention.
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The latest among them is Chris Ficano, who joined this month as head of institutional commodities sales. Ficano came from BMO, but previously worked for Goldman Sachs and for BNP Paribas. He looks like a major statement of intent.
Prior to Chris, Wells Fargo hired Brent Masucci and Robert Kaleal in June. Masucci was Morgan Stanley's global commodities COO in June and spent two decades with the bank. Kaleal spent 17 years at Koch Supply Trading as a physical metals trader.
In combination, the three men have around 50 years' experience trading commodities.
Thomas Carson, a director at Redstone Search, said the arrival of the three men is reflective of the broader environment for commodities. “Senior sales and COO‑level moves like these show how aggressively the market is competing for institutional coverage and operational leadership," he declared. "Experience in both derivatives and physical flows is being repriced upward.”
Commodities teams at major banks can afford to hire. Market intelligence firm Tricumen estimates that operating revenues per front office employee in commodities went from $2.7m in the first six months of 2025 to $4.3m in the first six months of 2026.
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