Former enforcement chief takes top job at Ferc
BAML promotes Ahmad to co-head; Coolidge leaves Velite; Black joins Wells Fargo; StanChart loses sales head; Freepoint adds oil traders
Norman Bay, a Washington, DC-based commissioner at the US Federal Energy Regulatory Commission (Ferc), officially became chairman of the agency on April 15.
Bay's appointment is controversial: before being elevated to commissioner, he was director of Ferc's Office of Enforcement, overseeing high-profile probes of alleged market manipulation by firms such as Barclays, Deutsche Bank, JP Morgan and Baltimore-based Constellation Energy, now a unit of Chicago-based power giant Exelon.
Ferc's
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