Two former managing directors at Nomura have teamed up with a group of oil industry veterans – including a one-time chief executive of Shell in Africa – to launch a new commodities venture, Financial News has learnt.

Ben Iversen, former co-head of equity capital markets in Europe, the Middle East and Africa at Nomura, and Jan Laubjerg, former Emea co-head of natural resources and head of oil and gas at the Japanese bank, have launched FlowStream Commodities.