Ex-Millennium Trader Rosengren Joins Modity Energy in Sweden

May 21, 2014 6:59 am ET

(Updates with new hires in second paragraph.)

May 21 (Bloomberg) -- Ola Rosengren, a former portfolio manager at Millennium Capital Partners LLP in London, will join Modity Energy Trading AB in Lund, Sweden.

Rosengren will start June 1 as head of trading, Chief Executive Officer Fredrik Bodecker said today by e-mail. Modity plans to hire five more staff to manage customer portfolios. The company also hired Anders Johansson from EON SE’s Swedish unit to lead its physical trading and Andreas Gillheim from Dong Energy A/S, Denmark’s biggest energy company, to head its new discretionary portfolio management department.

Rosengren, who Bodecker said is one of the most experienced commodity options traders in Europe, worked in energy at Barclays Plc before he joined Millennium in 2012. He also spent eight years at Bank of America Corp.’s Merrill Lynch.

Bodecker joined Modity this year after serving as head of market trading at Dong, where he worked since December 2010.

Modity is a four-year-old energy trading company, owned by local utilities in southern Sweden. It offers energy trading and portfolio management.