A London-based bullion trader is entering the U.S. marketplace.
BullionVault, which provides investment gold and silver to private individuals, has hired a veteran of the bullion market and is cutting its initial trading commission charge, the firm announced Nov. 30.
The online bullion exchange, which states that it holds more than 1 million ounces of physical gold for its users, counts more than 6,000 Americans among its 43,000 customers worldwide.
The firm has recruited Miguel Perez-Santalla — a 30-year veteran of the precious metals markets — to establish its New York office as vice president for business development in the Americas.
In addition, BullionVault cut the initial commission fee charged to its users, reducing it from 0.8 percent to 0.5 percent.
Perez-Santalla began his career in 1982 at Deak Perera, a bullion-product retailer. He was president of marketing for the New York trading desk of Heraeus Precious Metals Management, the 150-year-old German precious metals and technology group, for seven years. Most recently he was vice president of purchasing for one of today’s largest U.S. bullion retailers, APMEX.
Perez-Santalla is a board member of the International Precious Metal Institute, New York Chapter, and a member of the Silver Users Association.
For more information about BullionVault, visit its website, www.bullionvault.com. ■