Executive Director, Physical Base Metals Trading - Commodities

The Wells Fargo Commodities group is seeking an experienced metals trader to expand our portfolio and drive revenue through market-making and client engagement. In this role, you will execute physical and financial trading strategies, structure working-capital and hedging solutions, and contribute to the desk's commercial agenda across key base and precious metals markets. In addition to metals, the role will provide cross-commodity trading coverage during European market hours, supporting broader desk activity when U.S.-based traders are offline.
Key Responsibilities:

• Trade & market-make in base and precious metals, including premiums and differentials. Actively manage basis, spreads, and calendar structures.
• Cross-Commodity Trading Coverage during European market hours in coordination with the U.S. trading team.
• Manage risk across the book using exchange and OTC instruments; maintain disciplined risk/limits adherence and thoughtful hedge construction.
• Coordinate logistics with internal operations and scheduling teams on deliveries, warrants/storage, and documentation to ensure smooth execution.
• Develop client solutions including supply/offtake agreements, inventory financing structures, and bespoke physical strategies that align with customer objectives.
• Grow relationships & revenue by originating new business, deepening existing client engagement, and collaborating with Sales/Structuring on wallet expansion.
• Monitor markets and provide timely views on fundamentals, flows, and price drivers; contribute to trade ideas, product innovation, and commercial strategy.
• Collaborate with Structuring, Legal, Credit, and Finance to support transactions from origination through execution and lifecycle management.

Required Qualifications:

• Experience in capital markets or industry experience within the specific sector of the position, or a combination of both.

Desired Qualifications:

• Experience trading base and/or precious metals, including market-making, origination, or physical marketing.
• Experience trading energy products (natural gas, crude oil) to support cross-commodity coverage during non-U.S. trading hours.
• Proven track record managing a trading book, including pricing, risk, and delivery obligations.
• Expertise in premium/differential metals markets (e.g., Midwest aluminum) and inventory/storage economics.
• Experience structuring working-capital solutions tied to physical inventory.
• Established relationships across producers, consumers, merchants, and warehouses in the US/EMEA.
• Excellent analytical, communication, and decision-making skills in a fast-paced environment.

Job Expectations:
This position is deemed to be a Certified Person function under the FCA and PRA Certification Regime. You must at all times remain fit and proper to perform your role, and this will be assessed on at least an annual basis
In addition to the responsibilities summarised in your job description, you are also required to comply at all times with the FCA/PRA Conduct Rules:

• You must act with integrity.
• You must act with due skill, care and diligence.
• You must be open and cooperative with the FCA, the PRA and other regulators.
• You must pay due regard to the interests of customers and treat them fairly.
• You must observe proper standards of market conduct.

Posting End Date:
19 Feb 2026
*Job posting may come down early due to volume of applicants.
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