| NEW YORK
NEW YORK May 19 Energy merchant Freepoint
Commodities said on Monday it hired three natural gas traders
from hedge fund Sasco to expand its reach into U.S. gas futures,
amid a return of volatility that could boost client interest in
Joe Howley, previously chief investment officer at Sasco,
joined Stamford, Connecticut-based Freepoint as senior managing
director, while traders Brian Lisoski and Garth Camp have come
on as vice presidents of trading, Freepoint told Reuters in an
The three worked at Westport, Connecticut-based Sasco for
about a year. Their move to Freepoint was first reported by
energy news portal Sparkspread on Monday.
"These are very significant hires and signals our commitment
to growth and willingness to expand our senior leadership on the
natural gas trading side of our business," Freepoint President
Frank Gallipoli said in the email to Reuters.
Howley, a former Goldman Sachs trader, worked at another
hedge fund, Tudor Investment Corp, and for merchant Sempra
Energy Trading before going to Sasco. At Freepoint, he rejoins
ex-Sempra Energy colleague David Messer, who was formerly
president of that energy merchant.
Lisoski and Camp also previously worked at Sempra.
Their move to Freepoint comes as price swings reappear in
U.S. gas futures after a sharp winter rally earlier this
Freepoint has attracted energy traders over the past two
years as it became part of a group of merchants that bought into
physical commodity assets such as oil wells and power plants
amid tighter U.S. regulations that pushed Wall Street banks out
of such physical businesses.
Traders have also left hedge funds to join such merchants,
and bigger trading houses like Vitol, for better
payouts and a future share in the typically private firms.
(Reporting by Barani Krishnan; Editing by Cynthia Osterman)