Jarden loses ‘Mr Carbon’ as UK's Marex pulls off daring staff raid
The Kiwi investment bank has suffered a string of departures over the course of the year. And the latest wave following a raid by a rival may be the biggest yet.
An audacious raid on one of Kiwi investment bank Jarden's most lucrative businesses by UK financial services upstart Marex has sparked predictions of upheaval in fast growing carbon trading markets across the region.
London headquartered, Nasdaq-listed Marex in recent weeks pulled off a major raid on Jarden, snaring away a large chunk of its Asia-Pacific carbon trading team as part of the launch of a new operation in the region.
Headlining the departures is Auckland-based Nigel Brunel, known by some in the industry as ‘Mr Carbon,’ a star trader who left his position as head of commodities at Jarden and joined Marex a week ago. He will now lead Neon Carbon at Marex, assisting clients in trading New Zealand Units (NZUs) in a rapidly growing market that is five times larger than Australia’s on a per capita basis.
Brunel, who a source said generated tens of millions of dollars in business for Jarden each year followed the company's former head of institutional commodities in Australia, Michael Peters, out the door. Peters left in March and is now the executive director of energy and renewables at Marex.
