(BN) EDF-Credit Agricole Hires Olafsson as Trading Head


EDF-Credit Agricole Hires Olafsson as Trading Head (Update1)
2011-01-05 10:37:48.283 GMT

(Updates with company confirmation in second paragraph.)

By Lars Paulsson
Jan. 5 (Bloomberg) -- Haakon Olafsson, the former head of
trading for European power and natural gas at Credit Suisse
Group AG, joined a venture run by EDF Trading Ltd. and Credit
Agricole SA to take up a similar role in London.
He started work yesterday, according to a person with
knowledge of the appointment who declined to be named because
the information isn't public. Marie Leonard, a London-based
Credit Agricole spokeswoman, confirmed the appointment in an e-
mailed statement today.
Olafsson left Credit Suisse in October after joining its
London office about a year earlier from Rampart Capital LLP, an
energy hedge fund based in the U.K. capital that closed in May
2010. Credit Suisse registered him as an employee as of Dec. 1,
2009, according to the U.K.'s Financial Services Authority.
A graduate of the London Business School, Olafsson also
worked as head of European energy trading at Lehman Brothers
Inc. and was recruited by Goldman Sachs Group Inc. to help it
enter the European gas markets in 2001. He started his career in
1992 at Cargill Inc., where he traded agricultural commodities.
EDF Trading, a unit of Electricite de France SA, and Credit
Agricole's CIB unit set up a partnership in May 2009 to offer
the French bank's customers hedging products for European power,
natural gas and coal.

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--Editors: Rob Verdonck, Raj Rajendran

To contact the reporters on this story:
Lars Paulsson in London at +44-207-673-2759 or

To contact the editor responsible for this story:
Stephen Voss at +44-20-7073-3520 or sev@bloomberg.net