After more than 17 years of trading for Morgan Stanley, TeamLevine has left the global financial services firm to form the independent brokerage, Powerhouse. Based in Washington, DC, the new company works with clients to protect profit margins and grow their business by designing and implementing hedging strategies, while focusing on price risk management using energy futures and related financial instruments. Powerhouse says its clients represent nearly all sectors of the energy supply chain, from producers to downstream distributors and retailers. Customers include gasoline marketers seeking to protect retail margins, diesel fuel distributors offering fixed and capped prices, and energy users who worry that the latest headline will affect their fuel bill. Powerhouse also serves natural gas marketers and electric utilities with risk from energy price uncertainty. Team Levine members Alan H Levine, Elaine E. Levin, David A. Thompson and Brendan Burke began trading as Powerhouse in January, and the brokerage added its hundredth new account in February. “Reactions from the marketplace have been overwhelmingly positive. As an independent firm, we can be more nimble, and offer more highly tailored services and support to our customers,” said Levin, president of Powerhouse. “This is especially important given recent volatility in gasoline prices.” The Powerhouse team, with 80 years of experience in the energy marketplace, is led by Chairman and CEO Levine, who has expertise in petroleum and natural gas pricing, transportation and supply in world energy markets. Levine was part of the group that initiated the heating oil contract for Nymex in 1977-1978. The company can be contacted at info@powerhouseTL.com or by phone at (202) 333-5380.
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