People Swaps

New York-based coal and emissions broker Evolution Markets has hired Markus Bates to the newly created position of vice-president of international coal services. He moves from the global trading operations of CoalArbed, which is 50% owned by RAG Trading. RAG Trading is a subsidiary of RAG Coal International, a firm based in Essen, Germany offering services related to coal trading. Steve Nesis, managing director of Evolution Markets, says: “We see tremendous opportunity in the largely financially

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