Deutsche reshuffles commodity business

Deutsche Bank has reshuffled its global commodity management structure to boost its derivatives business and deal with increased business flows.

Kevin Rodgers, who was previously in charge of European power and gas, will assume responsibility for global energy trading; while Bob Jonke, who was previously head of the US natural gas and global oil businesses, will become head of commodities for North America. In addition to his regional role, Jonke will retain responsibility for Deutsche Bank’s oil business.

Both will report directly to Kerim Derhalli, global head of commodities at the German bank.

Meanwhile, Erik Verhaar assumes management responsibility for the bank’s European power and gas, coal, freight and weather businesses, reporting to Rodgers. The rest of the global commodities management structure remains unchanged.

“Deutsche Bank’s commodities division has seen significant growth in the past two years," said Derhalli. "The management changes are designed to strengthen the derivatives capabilities within the bank’s energy business and to create a stronger framework for future growth, especially in the North American markets.”