Garth Edward, formerly with Shell <RDSa.L>, will run Citi's global business in carbon trading and Kyoto emissions credits, the bank said.
LONDON (Reuters) - Citi <C.N> has appointed a new head of emissions markets as part of the U.S. bank's plans to expand its European commodities business.
Garth Edward, formerly with Shell <RDSa.L>, will run Citi's global business in carbon trading and Kyoto emissions credits, the bank said.
At Shell, Edward ran the oil company's environmental products trading business.
Citi moved into the carbon markets earlier this year, hiring carbon traders Alan Bannister and Heidi Forbes and more recently Paul Dawson, who joined Citi from Barclays to look after policy and regulatory affairs.
!ADVERTISEMENT!Edward will report to Paul Mead, managing director in European commodities.
Most investment banks have been expanding in commodities and environmental markets over the past year to capitalize on a boom in demand for products to offset volatile energy and metal prices.
(Reporting by Jane Merriman; editing by James Jukwey)
