National Bank of Canada (NBC) has expanded its energy derivatives team in Calgary with three managing directors: Bruce Calvin, previously chief executive of Calgary-based power exchange the Alberta Watt Exchange (Watt-Ex); and Tim Simard and James Joyce, previously both principals at energy risk management consultancy RiskAdvisory. There are now four NBC energy derivatives staff in Calgary and eight in Houston.

David Luppino, president and chief operating officer of Watt-Ex, will