UBS expands energy group and starts trading oil in Canada

Jason Cormack will run the new Canadian oil-trading group at UBS, covering both financial and physical contracts. He joined from Calgary-based energy company Nexen, where he traded mainly physical crude. The bank will trade crude oil in Calgary and will price refined products based on the trading book quotes at its headquarters in Stamford, Connecticut.

Arden Majewski becomes UBS’s first energy options trader in Calgary, covering power, gas and oil – he joins from TD Bank in mid-June. And UBS