New York, NY: March 14, 2001 – Natsource® LLC announced today several changes in personnel to its coal brokerage operations. The changes incorporate the retirement of a seasoned veteran, his replacement, and the further strengthening of resources to serve the growing coal market. Natsource’s coal desk remains the leader in coal brokerage with the greatest brokered volume of coal trades.
Coal desk veteran Mike Brienza will be leaving Natsource and retiring from coal brokering. Mr. Brienza joined Natsource in early 1998 as the second hire to the coal desk and one of the first brokers to ever facilitate OTC trades in coal. Mr. Brienza previously held a number of brokerage positions in money markets and other securities, and he was initially brought on to supplement the desk’s coal background with additional brokerage expertise.
"Mike has been a broker in our coal unit since its inception," said Jack Cogen, President of Natsource. "He was instrumental in building the operation into the industry leader. We congratulate him on a stellar career, and wish him best in his next endeavor. We will certainly miss him."
Mr. Brienza will be replaced internally by one of the initial architects of Natsource’s natural gas brokerage operation, Kerry Crowley. Ms. Crowley joined Natsource more than five years ago as one of the first dozen employees at the firm. She assisted in building the Northeast natural gas desk and acted as its co-head. Ms. Crowley can be reached at 212.232.5305 or kcrowley@natsource.com.
In addition, Brian Carroll, who was co-practicing on Natsource’s emissions and coal desks, will be devoting more of his time to bolstering the coal brokerage. Mr. Carroll has been assisting the brokerage of cross-commodity trades incorporating SO2 and NOx emissions and coal. He will continue in this capacity while also spending more time brokering coal trades.
The personnel moves strengthen the desk as the coal trading market continues to grow. Natsource recently expanded its coal brokerage coverage by opening its over-the-counter coal brokerage operation for Continental Europe. The brokerage operation, which is based in London, England, is one of the first desks to cover this emerging European commodity market.
