StoneX has appointed Dhamu R. Thamodaran as a Board Director as the diversified global brokerage firm aims to deepen its expertise in the commodities sector, particularly food and agricultural markets.
Dhamu R. Thamodaran was Executive Vice President, Chief Strategy Officer & Chief Commodity Hedging Officer at Smithfield Foods until December 2020, having retired since then.
Thamodaran led strategy development for Smithfield Foods’s vertically integrated business, managed its commodity hedging activities, and oversaw its global economics commodities research and analysis group.
He worked at Smithfield Foods since 1995, having joined as Director of Price Risk Management. Prior to that, he had related industry experience with John Morrell Food Group and Farmland Foods, which later became part of the Smithfield Foods family.
The new board director is widely respected for his knowledge of global macroeconomics, agricultural markets, and the pork value chain. He has also been a frequent speaker before boards of food and agriculture companies and industry trade association events.
Sean O’Connor, Chief Executive Officer of StoneX, said: “Dhamu brings a vast portfolio of experience gained from one of our largest and longest-standing clients, providing a deep understanding of StoneX, our culture and client-first approach, as well as the value we provide to all our clients.”
John Radziwill, Chairman of the Board of StoneX, commented: “We are extremely pleased to welcome Dhamu to the StoneX board. His experience and expertise in commodity risk management and global supply chains, as well as global macro economics will provide valuable expertise and insight and strengthen the board oversight and leadership.”
StoneX offers a multi-asset brokerage service that includes execution, risk management and advisory services, market intelligence, and clearing services.
The company has over 3,000 employees, serves more than 35,000 commercial and institutional clients, and more than 340,000 active retail accounts.
StoneX was previously known as INTL FCStone, a provider of execution, post-trade settlement, clearing, and custody services founded by Saul Stone in 1924.
In 2020, StoneX completed the acquisition of GAIN Capital Holdings, the online provider of retail foreign exchange trading and related services. The firm has multiple access points to OTC markets and global exchanges across a wide range of asset classes, including FX, commodities, and global equities.
According to the merger deal, the firm would acquire GAIN for $6.00 per share in an all-cash transaction representing approximately $236 million in equity value. The firm would also make an offer at closing to repurchase GAIN’s $92 million convertible notes due 2022.
