Cantor Fitzgerald LP has hired an energy industry veteran with 10 years experience -- including stints at Sempra Energy and TXU Corp. -- to lead the expansion of the firm's energy commodities desk. The New York-based energy group will include brokerage and advisory services in markets for natural gas, power, crude oil, refined products and coal.
The energy division will serve the global financial services provider's wide variety of clients including financial institutions, hedge funds, industrials, corporations, municipalities, utilities, and independent power producers. Previously, Cantor's energy brokerage activities were centered on the emissions allowance markets. It already is a major broker for European carbon dioxide allowances and U.S. pollution allowances of sulfur dioxide and nitrogen oxides. Cantor will not place its own money into the energy commodities markets.
Haroon Imtiaz, who set up commodities operations at Sempra and TXU, as vice president at Cantor will be responsible for developing its energy infrastructure, staffing and sales efforts across the country. His group will run three main business activities: brokering transactions, advising clients and setting up energy transactions.
Prior to joining Cantor, Imtiaz served as head of Sempra Energy Solutions' Commodity Structuring Group, which he formed in 2001 to evaluate, structure, and price power and natural gas transactions. Before Sempra, Imtiaz founded a group at TXU responsible for focusing on wholesale structured transactions and the valuation of TXU's generation portfolio, pipelines and storage assets.
"We are excited about entering the energy markets and pleased that Haroon has decided to spearhead this effort at Cantor Fitzgerald," said Josh Margolis, managing director of the Energy and Environmental Services Group. "For more than 13 years, Cantor Fitzgerald has provided energy sector clients with emissions and environmental brokerage services. Now we are providing integrated energy and environmental coverage in multiple energy commodities and offering both financial and physical trading and hedging capabilities to our customers."
Intelligence Press Inc. All rights reserved. The preceding news report
may not be republished or redistributed, in whole or in part, in any
form, without prior written consent of Intelligence Press, Inc.