Cosgrove moves into ethanol trading after GFI

After a three-decade career in energy brokerage, Michael Cosgrove has reinvented himself as an ethanol trader. Alexander Osipovich finds out why

Michael Cosgrove - Vectra Capital
Michael Cosgrove

Two years ago, Michael Cosgrove was looking for something to do. A prominent veteran of energy and commodity markets, he had just left his job as a managing director at New York-based interdealer broker GFI Group, and he was considering a variety of new career paths.

Fortuitously, Cosgrove was approached by two former colleagues, Robert Esposito and Joseph Verdi, who were traders at Latium Capital, a separately branded unit of GFI that traded as a principal in ethanol markets. They asked

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