BNP Paribas denies downsizing U.S. commodity and energy businesses

Two senior BNP Paribas energy traders in New York have left, but the Paris-based bank said on Monday it was not downsizing its U.S. commodity and energy businesses.

Reuters reports that Keith Shoemaker, managing director of North American natural gas trading, and William Hartz, head of financial oil trading, have resigned, BNP Paribas' head of commodity derivatives Catherine Flax told Reuters.

She did not give a reason for their departures.

Shoemaker, who had been with BNP Paribas for six years, is a veteran energy trader who has held senior positions at J.P. Morgan, Sempra Energy, Phibro, Louis Dreyfus and Mobil, among others, according to his LinkedIn page.

Hartz joined BNP Paribas in 2005 from Bank of America, where he managed the petroleum trading book, according to a profile of him by Risk.Net magazine.

Energy news website Sparkspread was the first to report on Monday that the two had quit.

Hit the link below to access the complete Reuters article:

Senior BNP Paribas energy traders quit; bank denies downsizing

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