Chicago-based R.J. O’Brien & Associates (RJO), the oldest and largest independent futures brokerage and clearing firm in the United States, announced today the appointment of Kevin J. Danca, 45, and Michael G. Connolly, 42, as Directors, FX and Precious Metals, based in the New York office. The two bullion market veterans have joined RJO’s global foreign exchange (FX) division to spearhead precious metals sales and trading, building out the firm’s expertise in the area as part of its growing institutional offering.
The firm states that Mr. Danca and Mr. Connolly will focus on attracting and providing “high-touch service” to hedge funds and commodity trading advisors (CTAs), expanding upon the firm’s over-the-counter (OTC), exchange-for-physical (EFP) and block futures trading capabilities.
Danca said: “I believe this is a great fit for us as RJO is committed to offering clients a personal, hands-on approach, backed up by deep resources and global support. I’m excited to help the firm significantly expand its metals business while maintaining the high level of service that RJO clients expect.”
Connolly said: “Kevin and I have known each other for 15 years within the commodity business, and we’re looking forward to working as a team at RJO. We’ve been incredibly impressed with the quality of people here and the enthusiasm about what we bring to the table.”
Danca joined RJO from HSBC Bank USA, N.A. in New York, where he served as Vice President, Global Precious Metals since 2011. In that role, Danca was responsible for covering hedge funds within the precious metals markets. Prior to HSBC, Danca was Director, Precious and Base Metals at Newedge USALLP from 2010 to 2011. From 1993 to 2010, Danca was a seat owner on the Comex floor, where he served as principal, managing multiple trading and marketing firms.
Connolly, a 16-year veteran of the precious metals markets, joined from Citrine Capital Management LLC in New York, where he was head trader. Prior to that, Connolly spent 14 years at HSBC, where he was Senior Vice President and Chief Dealer, Global Precious Metals Trading. Connolly began his career at Republic New York Securities.