Chicago-based R.J. O’Brien & Associates (RJO), the United States independent futures brokerage and clearing firm, has just announced that Joseph B. Raia has joined its New York office as Managing Director, Global Commodity Futures.
Raia has a decades-long track record in futures and over-the-counter (OTC) markets as well as hedging/risk management and business development – with a specialty in global commodities and energy products – including in Managing Director roles at Goldman Sachs and Co., CME Group and the New York Mercantile Exchange (NYMEX).
In the new role, Raia is charged with building out RJO’s energy and metals clearing and execution business globally, in futures, options and cleared OTC products. This includes expanding the firm’s breadth and expertise in a wide range of energy and metals products.
Daniel Staniford, Executive Director in charge of RJO’s institutional business development in New York and London, said:
Joe brings outstanding experience to RJO and a history of innovation in his previous roles at industry-leading organizations. He is a great asset as we continue to build our institutional client base and services and as we seek to grow our presence on the energy and metals fronts.
Raia added:
Joining RJO – with its deep history in commodity markets – was a natural next step for me. I’m looking forward to bringing greater visibility to the firm’s energy and metals capabilities and using my extensive relationships in these markets to help grow the business globally.
Raia most recently served as Managing Director and Global Head of Commodity Futures Sales at Goldman Sachs since 2011, where he helped build the firm’s relationships with a focus on commercial and institutional clients. Previously, he spent more than a decade as a futures exchange executive, initially with the New York Mercantile Exchange (NYMEX) and then with CME Group after it acquired NYMEX in 2008. Following the acquisition, Raia served as Managing Director and Global Head of Energy and Metals Products at CME Group, responsible for those product areas and a team of professionals worldwide. In the beginning of his career at NYMEX in late 2001, he had sole responsibility for initiating, building and launching what became the ClearPort clearing platform for risk and credit mitigation in global OTC energy products.
From 1989 to 2011, Raia served in a variety of energy trading and risk management roles that ultimately led to his appointment by NYMEX to develop ClearPort.
Raia began his career in the U.S. Merchant Marines, after graduating from the State University of New York Maritime Academy with a Bachelor of Science degree in Marine Transportation Management. He sailed on U.S. Flag oil tankers as a licensed ship’s officer until receiving a Master’s License and moving ashore as Port Captain.