A second emissions trader has joined the London office of global merchant commodities trading firm Hartree Partners LP after leaving Mercuria.

Benedikt von Butler was this week hired as a carbon and utility fuels trader by Hartree, joining former Mercuria colleague Ariel Perez, who was appointed by the firm last year to build an emissions trading desk.

Von Butler parted ways with Swiss-headquartered Mercuria late last year after the commodities trading house closed its London-based emissions trading desk, while Perez left the firm in Feb. 2015.

Von Butler and Perez both ran US investment bank Citi’s London-based emissions trading desk prior to joining Mercuria in 2012.

Hartree’s emissions trading operation is initially focusing on the EU ETS but will expand into other markets including the US and China.

Originally founded as Hess Energy Trading Company LLC in 1997, New York-headquartered Hartree now operates out of eight offices worldwide and offers risk management and consulting services relating to global commodities markets. It also engages in origination and proprietary trading.

According to its website, the company is owned by its managing partners, senior staff, and Oaktree Capital, which acquired Hess Corporation’s interests in the firm in 2014.

By Mike Szabo – mike@carbon-pulse.com