January 28, 2022 - Flack Global Metals, Chicago, announced Keith Shuttlesworth has joined the organization as executive VP of Flack Metal Bank. Flack Global Metals is a domestic flat-rolled metals distributor and supply chain manager, an international commodities trader, and a global hedge fund – purpose-built to deliver certainty. The organization launched Flack Metal Bank in 2021 to allow buyers of flat-rolled metal products to take advantage of pricing on the forward curve regardless of whether they secure physical inventory from FGM or maintain existing supply relationships.
Shuttlesworth is a steel industry veteran with over two decades of commercial and procurement experience. He joins FMB to lead efforts to increase market awareness of the financial tools available to reduce price volatility and help customers implement risk management and hedging strategies to complement their current supply chains.
Before joining FMB, Shuttlesworth was the chief commercial officer at Big River Steel and was instrumental in leading the company's extremely successful startup and phase two expansion. He was responsible for sales, marketing, and technical services, and was heavily involved in Big River's metallics procurement. Before his tenure at Big River, Shuttlesworth spent over 18 years at United States Steel Corp., where he advanced through many sales and marketing positions in both the United States and Europe.
"We have the best ferrous trading desk in the world supporting Flack Global Metals and now Flack Metal Bank," said Jeremy Flack, Founder and chief executive officer. "By bringing Keith onboard, we are adding the best commercial talent to that team to educate and encourage buyers on our long-held belief that hedging is the best way to provide certainty in securing metals supply and pricing."
FMB offers traditional FGM commodity price risk management services to customers in market situations where FGM does not arrange for the physical supply. The process involves converting fixed price arrangements into floating and vice versa. FMB creates a relatively easy method for entering into risk management when compared to other methodologies, as all transactions are backed by FGM's balance sheet, trading group, and sophisticated research arm
