Nathalie Meyer, Head of Risk Management at KPC Trading Ltd (Kuwait Petroleum Corporation)
Conversation with a commodities industry leader
1. Moment of Revelation
Can you tell us about an “aha” moment in your career, a decision or innovation that changed everything for you?
When I was at Cargill, still young and coming from a finance background, a remarkable mentor suggested I join the front office. The idea intrigued me, I was curious about risk but the “glamour” of trading was not enough to convince me. Two days later, HR approached me with an internal mobility plan. I declined.
In hindsight, that choice was pivotal. I realized that a career shift, however promising, leads nowhere if it is not supported by the right people at the right time. Without a solid environment and human alignment, even the most attractive opportunities can become dead ends. Sometimes the best decisions are the ones you don’t make.
Since then, I have remained true to this principle: I favor aligned teams, collective agility, and a resolutely solution‑oriented approach. In my view, it is within this framework that sustainable and above all successful choices can be made.
2. Green Challenge
Tell us about a bold sustainability initiative you’ve been involved in.
At Gunvor, I participated in the complete overhaul of the contract life cycle, a major undertaking executed like a start‑up within a large corporation. Over seven years, from the initial draft to the deployment of our internal system, we worked relentlessly with operations, finance, and IT. The primary challenge was to anticipate every change in order to avoid a “snowball effect” on other departments. The outcome: an integrated platform, more efficient and better aligned with ESG requirements, which transformed our processes while strengthening team spirit.
3. Tech Futurism
If you had an unlimited budget to innovate in trading, what would you develop?
Rather than dreaming of a radical “revolution,” I would bet on the extreme digitalization of data: capturing and conveying not only the flows but also…the trader’s emotion. After all, trading remains a business of human agreements, trust, and instinctive reactions. Imagining an algorithm capable of translating feelings (good or bad intuition, buy‑in on a deal) into actionable signals, that would be an unprecedented lever to optimize decision‑making without dehumanizing the profession.
4. Leadership and Management
What’s been your toughest decision as a leader?
Leadership is not measured only when everything is going well. It is fully revealed in the most uncomfortable decisions. Dismissing or redeploying a colleague you once believed in remains one of the toughest trials I have faced. I learned that responsible leadership also means putting the collective interest before the individual, without ever losing sight of the human element. This requires making such decisions with clarity but, above all, with empathy: explaining the why, offering alternatives, and supporting the next steps. This commitment has made me more authentic and has fostered within my teams a culture of honest, constructive feedback, even when it is unsettling.
5. Cultural Contrasts
Tell us about a negotiation where a cultural nuance changed everything.
Working with teams from diverse cultural backgrounds, I sometimes noticed that certain colleagues preferred an indirect mode of communication, particularly when it came to interacting with a woman. To ease exchanges, I recruited a local manager to serve as an interface, someone who knew when and how to relay my messages while respecting cultural sensitivities. In other contexts, such as in the Middle East, I adjusted my approach, modulating my natural warmth with increased distance, strategic silences, and heightened observation to seize the right moment to speak fully. These adjustments removed barriers and fostered open dialogue, demonstrating that inclusive leadership rests above all on attentive listening and adaptation to cultural differences.
It’s not the accumulation of successes that shapes a vision, but the ability to learn from our failures big or small to make better decisions, together.
6. Bold Prediction
What’s your bold take on the future of trading?
AI could soon replace part of the “paper” traders by aggregating flows and data at unprecedented speed. Geopolitically, I foresee a new balance of power between East and West: tensions at General Assemblies or various sanctions will sooner or later redraw trade routes. But until markets find a “new stability,” volatility will remain our daily reality: mastering uncertainty will become the key skill.
7. Failures & Lessons
A failure that left a mark?
Every day, we face failures, small deviations, questionable judgments, or decisions that could have been refined. In our profession, these are not anomalies but necessary steps. In risk, whether market or credit failure is raw material for analysis: we quantify it, test it, and integrate it into our understanding of the company’s risk appetite.
Backtesting and back‑trading are part of our daily routine. And that little phrase, seemingly innocuous “Are you sure?” often resonates as a reminder: of past mistakes, the vigilance we must maintain, the humility we must cultivate. It forces us to challenge our certainties, to reassess our blind spots, and to document our decisions more thoroughly.
Over time, I have learned to embrace Jean d’Ormesson’s wisdom: “Thank you for the roses, thank you for the thorns.” It is precisely these moments of questioning, however difficult, that make us grow. It is not the accumulation of successes that builds a vision, but the ability to learn from our failures, small or great, in order to decide more wisely together.
8. Influences & Inspiration
Any books or people that have inspired you?
Three mentors have marked my trajectory. Mickael Bornand opened the doors of the “trader’s bubble” by sharing his methods and vision of the profession. William Howell, with his engineer‑refiner’s perspective, imparted an understanding of the technical aspects while granting me precious trust.
Finally, Torbjörn Törnqvist impressed me with his humanity and accessibility. These encounters nourished far more than a career: they anchored in me a genuine sense of belonging, One team, one dream.
On the reading front, Plus jamais sans moi moved me deeply: a reminder to stay aligned with oneself and not to assume roles that do not reflect our identity.
9. Societal Impact
Beyond profit, what do you hope to accomplish?
As a woman in an often male‑dominated field, I hope to inspire other talents to dare, regardless of their academic background. In the medium term, I intend to structure a mentoring program to share my experiences and open doors, notably in risk management.
Our industry often operates in the shadows. And yet, trading plays an essential, sometimes vital role. It keeps hospitals running in war zones, ensures access to energy, water, and basic foodstuffs in crisis regions. It helps finance roads, schools, and infrastructure, levers that concretely improve the lives of millions. It is this form of trading, the one with the greatest social impact, that I choose to champion and promote.
10. Perspective on Ampersand World
What role do you see for Ampersand World?
Ampersand World SA stands out for its ability to finely decode human needs beyond the skills listed on a résumé. We advocate “attitude” before technical expertise, convinced that team cohesion and the right “fit” are the true levers of performance. Choosing a candidate is, above all, about revealing a collaborative potential, not merely scanning a career path.