![Risk.net](https://www.risk.net/sites/default/files/styles/print_logo/public/2018-09/print-logo.png?itok=1TpHrpuP)
Essent Trading CEO resigns
Paymon Aliabadi, managing director and chief executive of Essent Trading, has resigned.
Aliabadi joined Essent Trading in June 2004 and was responsible for developing, leading and managing Essent Trading from a Netherlands based unit, largely supporting the group's sourcing activities, to an international, Geneva-based trading and wholesale company.
Aliabadi will be replaced by Andrew Netemeyer, who will assume the role of managing director and chief executive of Essent Trading effective immediately, whilst also maintaining his responsibilities as chief trading officer.
"We do not know where Paymon is going next but after five years with Essent, he decided the time had come in his career to look for a new challenge. There will be a lot of opportunities for him because of his great experience and outstanding achievements," says Jeroen Brouwers, Essent spokesman.
In January 2009, Germany's RWE announced that it would buy Dutch utility Essent in an all-cash €9.3 billion deal. Essent will become RWE's operating company in the Netherlands and Belgium, and will continue as an independent entity.
"We agreed with RWE that our trading activities will be integrated with the supply and trading activities of RWE so that process is going on and we will see what the management structure will be after the integration is complete," says Brouwers.
Stephen Cornish lead vice-president of capital trading at Essent has also resigned. Essent said they do not comment on individual traders but confirmed he had left the company. "The employment market for traders moves very quickly and these two resignations in the space of one week are entirely normal and just happen in the course of several years with a company," Brouwers says.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on People
Cardano’s Max Verheijen moves to BasisPoint
Verheijen spent 24 years at the Dutch pension advisory firm
People: SocGen’s Farah replaces Salorio, Deutsche makes credit hire, and more
Latest job changes across the industry
Coex Partners hires former Citi head of FX Apac sales
Matt Long joins Coex in Singapore to oversee FX execution and trading strategy for regional clients
Athora CFO exit caps management overhaul
Entire management team at Apollo’s European insurance affiliate has been replaced since 2022
People: New brooms at NatWest and Tradeweb; MUFG splits rates, and more
Latest job changes across the industry
Bank of America’s Kris Fador elected FS-ISAC board chair
Industry consortium for cyber security also adds new board directors from Swift, PNC, Truist and CME
People: Barclays’ macro trade reshuffle, UBS board moves, and more
Latest job changes across the industry
Asia moves: Senior hires at HKEX, UBS and more
Latest job news from across the industry