Barrier to entry

Rumours are circulating that investment bank Citigroup is about to hire Joe Toussaint – formerly vice-president of marketing and operations at energy firm Cinergy – as head of its gas and power trading group. Neither Toussaint nor Citigroupofficials were available for comment. But even if the bank hires Toussaint – whoinjected a “warrior mentality” into Cinergy traders, says Cinergy’s1999 annual report – it may find kick-starting a power trading businessan uphill battle.

Most energy merchants

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