Deutsche

Deutsche Bank has sold its natural gas trading book to Morgan Stanley, a source familiar with the deal confirmed to NGI.

Nearly a decade after entering the U.S. natural gas trading market, Deutsche Bank said Thursday it is significantly scaling back its commodities business and will exit the dedicated trading desks for energy, agriculture, base metals and dry bulk.

Solid reasons exist for bulls not to be discouraged by the current “pricing malaise” in U.S. natural gas markets, according to Deutsche Bank (DB).

Solid reasons exist for bulls not to be discouraged by the current “pricing malaise” in U.S. natural gas markets, according to Deutsche Bank (DB).

In expanding its U.S. Power and Gas Trading business in the last year, JPMorgan announced last week it has added three new employees from Deutsche Bank, two from UBS and one each from Sempra and Goldman Sachs. The additions are part of a 50-person expansion of its global commodities business, including oil and distillates trading, carbon and environmental products, energy sales and marketing and commodity-linked structural products. The new employees in the gas and power segment and their positions at JPMorgan are:

Following up on announced plans to search for strategic alternatives, Magnum Hunter Resources Inc. said Monday it has hired Deutsche Bank Securities and Merrill Lynch & Co. as financial advisers. Founding CEO Gary Evans announced his retirement last week, and said the next management team would take the company to a new level (see Daily GPI, Oct. 8).

Deutsche Banc Alex. Brown analyst Ed Tirello initiated coverageof Caminus Corp. with a Strong Buy rating, predicting that theenergy industry’s spending on information technology and softwarewould grow significantly in the next few years.

Deutsche Banc Alex. Brown analyst Ed Tirello initiated coverageof Caminus Corp. with a Strong Buy rating, predicting that theenergy industry’s spending on information technology and softwarewould grow significantly in the next few years.