People
DrKW forms energy trading business
Investment bank Dresdner Kleinwort Wasserstein (DrKW) has formed a London-based energy trading business, headed by Neil Rothwell.
Brown-Hruska to serve as CFTC acting chairman
Sharon Brown-Hruska has been appointed by US president George Bush to serve as acting chairman of the Commodity Futures Trading Commission (CFTC). Brown-Hruska was previously a CFTC commissioner and will take over the duties of outgoing chairman, James…
Shell appoints governance advisers
Energy major Royal Dutch/Shell Group yesterday appointed investment banks Citigroup and Rothschild as financial advisers to the steering committee reviewing its structure and governance.
APX restructures and hires senior staff
APX Group, which provides exchanges for natural gas and power trading across northwest Europe, will move London-based power exchange UKPX’s forwards market onto its own system on August 18. The group has also made several senior appointments following…
Newsome leaves CFTC to head up Nymex
James Newsome has quit as chairman of the US Commodity Futures Trading Commission (CFTC) to head up the New York Mercantile Exchange (Nymex). Newsome’s resignation is effective from July 23, and he will be president of Nymex from August 2, replacing Bo…
The troubleshooter
After struggling for a year with a difficult Triple Point installation, US energycompany Cinergy brought in energy IT veteran Joel McKnight. Nine months on, implementationand integration is complete. By Joe Marsh
King of convenience
The need for Sarbanes-Oxley certification has boosted sales of internet servicerisk systems, says web pioneer Martin Chavez of Kiodex. By James Ockenden
Bucking the trend
Openlink’s founder Coleman Fung talks to James Ockenden about the decisionsthat have promoted his company to one of the leading risk management solutionproviders
Nordic volumes heading south
Nordic region electricity trading volumes are falling fast, which is damagingprofits at Oslo-based power exchange Nord Pool. The company may face postinga loss for 2004 if it cannot reverse this trend. Joe Marsh reports
APX restructures, makes senior hires
Amsterdam-based APX Group, which provides exchanges for natural gas and power trading across northwest Europe, will move London-based power exchange UKPX’s forwards market onto its own system on August 18. The group has also made several senior…
Statoil penalised over Iranian scandal
Norwegian energy company Statoil could be fined 20 million Norwegian kroner ($2.92 million) in relation to a payment it made to a London investment firm for advice on conducting business in Iran.
BNP hires in commodity derivatives, following departures
French bank BNP Paribas has made four hires in its commodity derivatives business, following the departure of two senior members of its team last month. In early May Dutch bank ABN Amro hired Wayne Harburn, BNP’s former head of European energy trading,…
Voser returns to Shell from ABB
Troubled energy major Royal Dutch/Shell has appointed Peter Voser as director of its Shell Transport and Trading Company subsidiary and as group managing director and director of finance of the Royal Dutch/Shell group.
California grid operator names interim CEO
The California independent system operator (Cal ISO) has hired Marcie Edwards as interim chief executive, while it seeks a permanent replacement for Terry Winter who resigned on June 1.
Merrill Lynch tipped to bid for EKT
Rumours are circulating that Merrill Lynch may snap up Entergy-Koch Trading (EKT) following last week’s news that New Orleans-based Entergy Corporation and Wichita’s Koch Industries are considering selling their Houston-based energy trading business.
Nord Pool entices Russian companies
A delegation of Russian companies yesterday met with Nord Pool to discuss the possibility of becoming members of the Oslo-based electricity exchange.
Nymex chief quit over pay cut
Bo Collins' decision to resign as president of Nymex was triggered by the board cutting his compensation package, said a source at Nymex.
IPE hires Fredrik Voss
Fredrik Voss, one-time chief executive of the UK power Exchange, is to join the London-based International Petroleum Exchange (IPE), as director of market development.
CFTC director resigns
Michael Gorham has resigned from his post at the US Commodity Futures Trading Commission (CFTC), effective June 30. Gorham was recruited by CFTC chairman James Newsome to become the first director of the Commission's Division of Market Oversight (DMO) in…
NRG Energy creates chief risk officer role
NRG Energy has hired Philip Chesson to fill the newly created role of chief risk officer.
IPE puts back relaunch of power futures
London’s International Petroleum Exchange (IPE) has put back its relaunch date for UK electricity futures – it will now start listing them by the end of September. The exchange had originally intended to launch the contracts around the end of this month.
BoA’s head of energy trading lands at hedge fund
Julian Barrowcliffe, formerly global head of energy trading for Bank of America in New York, has joined Vega Asset Management – a New York-based hedge fund with $11 billion under management. In his new role Barrowcliffe will manage a commodities trading…
TXU and CSFB form energy trading company
Dallas-based TXU has entered into a joint partnership with Credit Suisse First Boston (CSFB) to create an independent entity to market and trade power, natural gas and other energy-related commodities in North America.
Mooney quits Trafigura to launch Merrill fund of funds
David Mooney, formerly head of power and gas trading at Trafigura in London, has left the Swiss commodity trading house to join Merrill Lynch. Mooney will join Merrill in mid-June as a managing director where he will be charged with evaluating commodity…