Deutsche Bank added to its North American trading workforce on Tuesday with four new hires in its energy commodities business within its Global Markets division in Canada. Raymond Houghton, Mike Kardash, David Lake and Alan Wright have joined as directors and will be based in Calgary. Houghton, Kardash and Lake joined the bank’s U.S. natural gas trading business from Northern Lights Capital Advisors, a division of Centaurus Energy. They will report to Andrew Grams, managing director and head of North America Power and Gas trading, and Derek Davies, managing director and head of Commodities in Canada. Wright, who came from TD Securities where he led the energy sales and origination team, will be responsible for Canadian commodity sales and will report to Davies. Previously Wright was with CIBC World Markets in Calgary and New York, and Enron Canada in Calgary. Deutsche Bank recently made several hires within its Global Markets division in Canada, underscoring the bank’s commitment to the region. Based in Toronto, Norman Brownstein joined as a managing director, and Sheldon Chychrun joined as a director in the Institutional Client Group, and Berkeley Hynes has joined as a director in Debt Capital Markets.
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Articles from Workforce
‘Energy Citizens,’ er, Employees, Rally Against Cap-and-Trade
Downtown Houston was filled to overflowing with the city’s energy workforce recently in the nation’s first Energy Citizens rally, promoted by producers and business organizations that want to stop passage of the climate change bill now before Congress. However, some of the biggest companies declined to participate in the call to arms, and questions remain as to what the industry really wants Congress to do.
‘Energy Citizens,’ er, Employees, Rally Against Cap-and-Trade
Downtown Houston was filled to overflowing with the city’s energy workforce Tuesday in the nation’s first Energy Citizens rally, promoted by producers and business organizations that want to stop passage of the climate change bill now before Congress. However, some of the biggest companies declined to participate in the call to arms, and questions remain as to what the industry really wants Congress to do.
Apache Confirms Job Cuts Worldwide
Houston-based Apache Corp. said Wednesday it is reducing its global workforce to “reflect current activity levels.”
Wyoming Energy Industry Called Strong Economic Contributor
Wyoming’s oil and natural gas industry, which employs about one in five of the state’s total workforce, last year contributed an estimated 32% of the state’s total economic output, or $18.6 billion, 25% of total earnings and 43% of gross state product, according to a study by consultant Booz Allen Hamilton.
Calpine Selling 20 Plants, Cutting 775 Jobs
Calpine Corp. plans to sell about 20 power plants and cut its workforce by 775, which when combined with previously announced measures will trim annual costs by more than $150 million.
NGI The Weekly Gas Market Report
TXU Energy Lays Off 20% of Workforce, Top Reliant Exec Resigns
TXU Energy, the largest retail electric provider (REP) in Texas, announced last week it will lay off about 20% of its workforce, or 65 employees, in an effort to trim costs. The news follows the resignation in late November by a top executive at Reliant Energy Inc., the state’s second largest REP.
Shell Oil to Cut Information Technology Workforce
Houston-based Shell Oil Co. plans to cut up to 800 information technology (IT) positions in the United States in an effort to save about $850 million annually beginning in 2008.
El Paso Fires 40% of Corporate Officers, Cuts Directors 21%, Workforce 9%
El Paso Corp. announced that it had “completed the creation of a fit-for-purpose organization” last week that resulted in a 40% reduction in corporate officers, 21% of its directors and 9% of the rest of the organization, not including field operations or field services businesses.
BP to Reduce Lower 48 Workforce; Alaska Safety Issues Surface
London-based BP plc plans to cut about 1,000 jobs from its Lower 48 operations, after announcing last week that its fourth quarter earnings will be below forecasts. Apparently, no more jobs will be eliminated from the extensive Alaska operations, which were cut 20% last year.
