Evolution launches weather desk

New York-based environmental and energy broker Evolution Markets has launched a weather derivatives desk. The firm has hired two new staff members to lead the desk. Bill Young, previously senior vice-president of environmental products at rival broker Prebon Energy, will run the desk as vice-president of weather markets. He will work with Nicholas Ernst, who becomes director of weather markets. Ernst joins from Enron, where he was active in the company’s metals division.

Ernst says he is looking