Noble promotes global head of oil liquids to newly created president of Noble Americas

NOBLE Group announced on Monday that Jeff Frase, its global head of oil liquids, has been promoted to president of Noble Americas with immediate effect.

The commodities group said Mr Frase would continue in both his roles as global head of oil liquids and as a member of its management committee. He will also manage stakeholder relationships in the Americas, overseeing client coverage and helping business activity in the region for Noble's various commodity activities.

"President of Noble Americas is a new role that reflects the increasing importance of the Americas to Noble Group's global footprint and profitability,'' the company said in a release.

North America contribution to the group has grown to 32 per cent this year from 12 per cent in 2008.

Based in Stamford, Connecticut, Mr Frase joined Noble in 2013 from JPMorgan, where he was the head of the global oil business since 2008. Prior to that, he was the head of global oil at Lehman Brothers, and spent 17 years at Goldman Sachs in the J Aron Commodities Trading Group.

Noble's chief executive officer, Yusuf Alireza, said Mr Frase has been instrumental in "helping Noble develop a world class oil trading business that has seen year-on-year volume growth of over 30 per cent and a 92 per cent increase in operating income from supply chains year-on-year".