Team

“TO WIN WITHOUT RISK IS TO TRIUMPH WITHOUT GLORY”
(Pierre Corneille)

The two Principals, Jean-Marc Bonnefous and Bruno Syrmen, have gained extensive experience in investing and trading commodity markets profitably in all market conditions from the early 1990’s.

Jean-Marc Bonnefous was previously head of global commodity derivatives at BNP Paribas (1998-2006) and Bruno Syrmen was senior energy trader at Barclays Capital (2000-2005).

Jean-Marc Bonnefous is the founding and managing partner of Tellurian Capital Management LLP, a London based investment management firm focused on commodity strategies. Over the years, he has developed a recognized expertise in managing financial investments for institutional and private investors and in starting new businesses. Prior to launching Tellurian in the asset management space, he was an investment banker at BNP Paribas, and most recently, until 2006, the Global Head of Commodity Derivatives at BNP Paribas based in New York and London. He built and managed the commodity derivative trading business at BNP Paribas across a wide range of commodity assets out of Europe, the US and Asia. Jean-Marc Bonnefous participated in the early development of the new structured derivative market in oil, natural gas and base metals from the 1990’s.

Jean-Marc is also a professor adjunct in finance at the IE Business School in Madrid. He holds a graduate degree from the Institut d’Etudes Politiques de Paris (SciencesPo), as well as a Master of Laws from the University of Paris-Assas and a Postgraduate degree (DESS) in Banking and Finance from the University of Paris-Dauphine.

Bruno Syrmen has many years of trading experience that is highly focused on oil as an underlying and on options/volatility as an instrument. Trained as an engineer in the R&D centre of Bank Indosuez, he developed advanced options risk systems. Over a number of years of option trading he has subsequently acquired a strong expertise in all aspects of market-making and day-trading, as well as longer-term position taking. With a thorough knowledge of fixed income markets, he is highly fluent with quantitative trading tools, particularly in options. In his last few years at BarCap, Bruno had become the recognized top options market-maker in the global oil markets. He has extensive and valuable contacts within the oil trading industry, banks, physical traders and brokers.