Neas Energy Hires Deutsche Bank’s Smithson as Power Trader

Neas Energy A/S, the Danish energy-trading company, boosted its power team with the hire of Benjamin Smithson from Deutsche Bank AG (DBK) as a short-term European electricity trader.

Smithson, 28, started yesterday in Aalborg, Denmark, where Neas is based, Rasmus Buhl Moeller, a spokesman for the trading firm, said by phone today. Smithson, who moved from Deutsche Bank in London where he was an intraday power trader, was previously an analyst at Goldman Sachs Group Inc., Buhl Moeller said.

Smithson is the fourth former Deutsche Bank power trader Neas has recruited since March, Buhl Moeller said. The firm is expanding as the European Commission seeks to create a single regional power and gas market by 2014. It plans to move into eastern European natural-gas trading, as well as French, Dutch and Belgian markets, the company said in September.

Neas also hired Tarjei Kristiansen, 42, as a senior analyst at its short-term trading desk, Buhl Moeller said today. Kristiansen joins from SN Power Brazil and was previously at JPMorgan Chase & Co., Statkraft Energi AS and Norsk Hydro ASA. (NHY)

The trading firm was started by four local energy companies in 1998 when Denmark’s power market was deregulated, according to the company’s website. It was bought by a group of private equity investors in 2011 and is now owned by Neas Holding AS.

To contact the reporter on this story: Torsten Fagerholm in Helsinki at tfagerholm@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net

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