SG Corporate & Investment Banking (SG CIB) has appointed Christopher Connelly to its commodities markets division to further strengthen its coal and freight activities. With the volatility experienced in both coal and freight markets over the last two years and its financial impact for both producers and end users, SG CIB claims it is looking to develop innovative products to assist its existing client base while expanding its reach to new clients in Europe, Asia and the Americas. Based in Paris, Connelly will report to Jrome Malka, head of SG CIB Energy Trading.
Connelly joins SG CIB from Scottish and Southern Energy where he headed up the coal and freight group during a transitional period after its purchase in July 2004 of American Electric Power’s two coal-fired UK power stations. Before joining Scottish and Southern, he headed AEP’s coal and freight department having joined from Enron’s coal and freight group.
“This development is a natural extension of our existing activities in energy markets. Customers increasingly need integrated hedging strategies linked to their physical commodity requirements which include coal and freight. In addition, SG CIB already has expertise in the utility, coal production and freight sectors on the financing side. We believe that our mix of commodity derivatives experience, lending capabilities and credit worthiness combined with Christopher’s knowledge of coal and freight markets will add a unique and valuable offer to the marketplace,” says Serge Topolanski, deputy head of commodities markets.
Since 1988, SG CIB has been a major participant in the energy, precious metals and base metals markets from its offices in Paris, London, Houston, New York, Sydney and Singapore.