By Georgina McCartney, Arathy Somasekhar and Liz Hampton

HOUSTON, May 8 (Reuters) - Houston-based distillate trader Zak Banks is departing global commodity trading house Gunvor [RIC:RIC:GGL.UL], three sources told Reuters on Friday.

The reason for his departure from Gunvor was unclear. Gunvor did not immediately respond to a request for comment, while Banks could not be reached for comment.

The Swiss-based commodity trader recorded an 85% drop in net profits in 2025 to $104 million, according to financial results released in April.

The sharp drop came as Gunvor employees staged a management buyout to replace former CEO and co-founder Torbjorn Tornqvist with Americas head, Gary Pedersen, late last year.

Gunvor is one of the world's largest oil trading houses, buying and selling the equivalent of 3% of the world's oil supply every day.