Retreated from carbon trading for over a decade, Barclays Plc is trying to come back to market and appointed a veteran of Shell Plc, Oliver Morning, to run the operations, according to Bloomberg report.
Morning is expected to be the head of carbon and environmental products trading of Barclay and bring significant profits as many other hedge fund managers, private equity firms and bankers hope for.
“It wasn’t that long ago Barclays wanted out of anything that smelled like a physical commodity, so this hire represents a sea change,” Philip Hardwick, who has held positions in carbon units at both Barclays and JPMorgan Chase & Co., said.
