An ex-Mercuria carbon trader has joined Hartree Partners LP to help build an emissions desk at the global merchant commodities trading firm’s London office, a well-placed source told Carbon Pulse.

Ariel Perez joined Hartree Partners this week after leaving Swiss-based Mercuria’s London office in late-February, where he had worked as a senior cross commodity trader since June 2012.

Perez is tasked with developing Hartree’s emissions trading operations, which will initially focus on the EU ETS but will likely expand into other markets including the US and China, the source said.

Perez was not reachable and a Hartree representative was not immediately available to confirm the hire or to comment on the company’s emissions trading plans.

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 last year.

Prior to joining Mercuria, Perez was head of emissions trading at US bank Citi.

By Mike Szabo – mike@carbon-pulse.com