London, 24 March 2020
Today Macquarie’s Commodities and Global Markets Group (Macquarie) announced the acquisition of Societe Generale’s energy commodities portfolio - comprising Over the Counter (OTC) financial energy transactions, European wholesale physical gas and power contracts and European carbon emissions allowances - with both existing and new clients across Europe, the United States and other jurisdictions.
Macquarie is one of the leading banks active in commodity markets and provides risk management, financing, physical execution and logistics services to a broad base of clients in the energy, metals and agricultural sectors.
The portfolio was acquired following an auction held by Societe Generale. Through the acquisition, Macquarie has further enhanced its ability to support clients through various market cycles across its commodities platform.
Erik Petersson, a Senior Managing Director in Macquarie’s Commodities and Global Markets Group said: “The new portfolio complements our existing offering and expands our presence in the energy markets - particularly in the power, gas and oil sectors. Given our experience and tenure in the market, we are well equipped to service our new clients and we look forward building long lasting relationships with them, as well as growing our existing franchise”.