GAM launches energy trading

Monday 29 August 2005 at 16:00

UBS Global Asset Management, one of the world's largest money managers, is set to begin trading energy.

The Zurich-headquartered firm, with $535bn (€434.6bn) in assets under management, is establishing an internal hedge fund that will be managed by Tony West, former head of power and gas trading and marketing at RWE Innogy, the German utility giant, reports SparkSpread, the online energy news service.