Vice President, European Natural Gas Trading – Commodities Job at Wells Fargo (City of London)

Job Description

The Wells Fargo Commodities group is seeking a experienced Vice President level trader to lead the firm’s European natural gas trading activity. This role carries primary responsibility for P&L generation and risk management across the European gas portfolio and works in close partnership with the commodities sales organization to compete for and service client OTC swaps and options hedging needs. The successful candidate will act as a market‑maker to clients and the wider market, deploying discretionary and systematic trading strategies within defined risk limits, while contributing meaningfully to the desk’s commercial strategy and cross‑commodity coverage model. In addition to European natural gas, the role provides cross‑commodity trading coverage during European hours, pricing and hedging client activity across related products (e.g., crude oil, metals) while U.S. trading desks are offline, ensuring continuity of client service and disciplined risk transfer.

Job Responsibility

Trade and market‑make across major European natural gas hubs (e.g., TTF, NBP, THE) using swaps, options, and exchange‑traded instruments in support of client hedging and flow business.
Own and manage P&L and market risk for the European gas portfolio, maintaining strong discipline around limits, stress testing, and intraday risk management.
Actively manage basis risk, locational and calendar spreads, and settlement exposures (e.g., TTF Monthly vs. ICIS Daily) while overseeing non‑linear risk across the options book (Vega, Gamma, Vanna).
Construct and maintain forward curves and volatility surfaces, applying market insight and trading judgement to support client pricing, portfolio valuation, and robust P&L attribution.
Partner closely with Sales, Structuring, and Quantitative teams to price complex client flows, enhance modeling and risk methodologies, and expand trading and execution capabilities.
Originate and grow revenue by deepening client relationships, developing new trading opportunities, and contributing to product and commercial strategy.
Monitor market developments and communicate concise, actionable views on fundamentals, flows, weather, storage, LNG dynamics, and geopolitical drivers.
Mentor and develop junior talent, set desk standards, and reinforce strong market conduct, control awareness, and risk culture.

Requirements

Experience of direct European natural gas trading experience on a dealer desk.
Demonstrated ability to price and risk‑manage client hedging flows across major European hubs and benchmarks/indices.
Proven P&L track record managing a material trading portfolio within a regulated risk framework.
Solid experience managing an options portfolio, including volatility surface construction and non‑linear risk.
Strong understanding of European gas fundamentals, including storage, LNG flows, weather impacts, outages, and seasonal dynamics.
Ability to operate effectively in a fast‑paced, client‑driven trading environment with strong partnership across Sales, Quants, Technology, and Risk.

Nice to have

Trading experience across European gas and/or adjacent energy markets, including power, LNG, oil products, or emissions, with the ability to operate across interconnected markets.
Strong understanding of cross‑commodity relationships (e.g., gas‑power linkage, LNG arbitrage, fuel switching, weather impacts) and how these dynamics influence pricing and risk.
Experience supporting or leading client‑driven OTC trading, including structured hedging solutions and bespoke risk transfer.
Demonstrated ability to form and express a market view, translating fundamentals, flows, and volatility into executable trading strategies.
Comfortable partnering with Quantitative, Technology, Sales, and Risk teams to improve pricing tools, analytics, and execution capability.
Evidence of operating effectively within a regulated risk framework, balancing commercial opportunity with disciplined control.
Experience contributing to or informally leading within a trading desk environment, including mentoring junior traders or analysts.
Degree in a quantitative, scientific, or financial discipline preferred
advanced qualifications (e.g., Master’s, CFA) viewed positively but not required.

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Vice President, European Natural Gas Trading – Commodities

Job Description

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