The History of a Scandal: Metallgesellschaft Revisited with Kevin O’Reilly

In 1993, Metallgesellschaft, the German Global Industrial conglomerate lost $1.3bln in oil derivatives trading through its US subsidiary MGRM. The details leading up to their implosion and the subsequent actions taken by their CEO, trading counterparties and their lending banks have been hotly debated by academia, business school students and their contemporaries in the markets ever since. In this episode, as we approach the 30th anniversary of one of the largest and most famous financial calamities in the oil trading markets, we review the key moments and, uniquely, draw on viewpoints from industry veterans present at the time: What really happened and why? What did the academics miss and what, if anything, has been quietly hushed? What lessons were learned, if any? Joining us is Kevin O’Reilly, commodities investment banker and commodity markets theorist.

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For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global Each day, around the world, we have fascinating one-on-one conversations with our connections in the commodities sector. Our collaborators are uniquely informed, creative and inspirational in their fields. We want to provide our community a seat alongside us, listening in to these conversations in that special way podcasting provides as we tackle topical and people related issues with the leaders and leading minds in our sector. Visit www.hcgroup.global more information on us and our services. To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/