ED&F Man Said to Hire Fixed-Income Team From Interactive Brokers

(Bloomberg) — Commodity broker ED&F Man Holdings Ltd. has hired a group of fixed-income traders who left Interactive Brokers Group Inc. last year, according to people with knowledge of the matter.

They joined ED&F Man last week, said two people, who asked not to be named because the information isnt public.

ED&F Man, which has roots in the 18th century, is known for trading agricultural commodities such as sugar and coffee, but its signaled a desire to expand in debt trading. In June, Chris Smith, chief executive officer of ED&F Man Capital Markets, hailed the companys new membership in the Depository Trust & Clearing Corp. as a significant step towards our efforts to build a fixed income platform to provide broad access and liquidity to our institutional customers.

Caitlin Duffy, a spokeswoman for Greenwich, Connecticut- based Interactive Brokers, and Emma Kane, a spokeswoman for ED&F Man, declined to comment.