DrKW forms energy trading business

Investment bank Dresdner Kleinwort Wasserstein (DrKW) has formed a London-based energy trading business, headed by Neil Rothwell.

The desk will trade gas and oil, but has no immediate plans to trade electricity. Rothwell previously worked for RWE in London as head of global oil trading. Prior to joining RWE in 1999 he worked for three years in energy derivatives trading at Union Bank of Switzerland in London and Zurich.

In his new role Rothwell will report to Jorge Villon, DrKW's global head of foreign exchange.

"Neil's appointment will enable us to diversify our commodities' activity into energy trading and become an active player in this space, providing further risk diversification within our business," Villon said in a statement. "At RWE, Neil was instrumental in establishing a very successful energy trading business and, during the course of the next 6-12 months, he will leverage that experience in the creation of a new team at DrKW."