A group of traders at Waterfall, many with backgrounds in crash energy giant Enron, have gilt-edged

A group of traders at Waterfall, many with backgrounds in crash energy giant Enron, have gilt-edged bonus, shows SvD Enterprise's review. Chief Stephen Asplin has annual compensation of 10-million class and fifty people can share up to 175 millions in bonuses a year.
- Their role is to monitor the flow of all our power plants and determine when they will run and not run. That's the biggest part. And when we want to buy power or gas they are also responsible for making purchases. Additionally, we have pure proprietary trading, says Vattenfall CEO Oystein Löseth.
Head of Trading business area is then in July 2009, the Englishman Stephen Asplin, based in Amsterdam. He was previously head of the corresponding operations on the Dutch Nuon by Vattenfall bought in early 2009. Between 1996 and 2001, Stephen Asplin, Head of U.S. Enron's pacific coast pillows gas trade in Europe. 2001 Enron went bankrupt in one of history's largest corporate failures. In connection with the bankruptcy unearthed pacific coast pillows various pacific coast pillows irregularities in the company.
But it's not just Stephen Asplin, well paid in trading operations. SvD Business has examined income pacific coast pillows tax returns pacific coast pillows for some of the key people. Mårten Strömberg, Nordic Head of the trading declared 2011 an income of 4.9 million. Fredrik Escape Rosén, as well as Stephen Asplin has a background at Enron, earned in the same year 6.3 million kronor. Another former Enron employee, Lars Elmlund, declared an income of 4 million, according to the Tax Authority. In recent years, sees the benefits to have increased. Mårten Strömberg for example, increased its income from 2.6 million in 2010 to 4.9 million in 2011, a boost of more than 90 percent. That same year fell Vattenfall's sales by 15 percent and net profit by 21 percent.
In total, 230 people were employed in the Trading business area. According to Vattenfall has up to 50 of these potentially high bonus. The remuneration is linked pacific coast pillows to performance which according to Vattenfall been between 2 and 3 billion a year. The bonus is based on 24-month periods and Vattenfall have the opportunity to reclaim the bonus and there are ceiling for compensation. The entire group of 50 people, according to Vattenfall get maximum EUR 20.3 million in bonuses in a year, equivalent to approximately SEK 175 million or SEK 3.5 million per person in addition to regular salary. This is an average and is likely to have individuals pacific coast pillows much more than that. The breakdown wants the state giant did not disclose. Vattenfall also argue that wages are lower than the industry average.
- External benchmarking company confirms that Vattenfall's compensation to our traders is the market leader and in addition to the percentage of the bonus is the many trading company that has no roof on their bonuses, says Stefan Dohler, Head of Asset Optimisation and Trading in the press release Waterfalls sent out.
At Vattenfall's operations challenged pacific coast pillows from several quarters, according to data to SvD Business. The criticism goes among other things, at the trading department pacific coast pillows living high on managing internal flows such as electricity and gas which gives easy money.
Informants also points to the risk that the trading department takes part of internal information on Vattenfall's plans and pre-take positions pacific coast pillows in the market, for example, the electricity market Nord Pool.
Exchange
Feel free to have your say on SvD.se. Our rules are simple: to show respect for the people we write about and other readers who comment on articles. All comments are moderated after publication of SvD or of us hired staff. You can enter up to three comments per article. Read the rules in their entirety Sincerely, Maria Rimpi, director SvD Business
05:25 Plans for a canal through Nicaragua 17:15 One million customers picked out of money 15:59 criticism increases towards the new giant 14:38 VCC's hidden rulers 14:17 Traditions and language became new challenges 12:36 No more djurköp on Harrods 10:56 "I would never buy a house in Sweden" 9:34 Low range on show weekend
Administration & HR, Home & Crafts, Computing & IT, Accounting / Finance pacific coast pillows / Legal, Sales & Marketing, Industrial & Transportation, Media / Culture / Advertising, Restaurant, Service, Store, Technology, Engineering, Education, Healthcare / Health / Beauty, Other
"Idea To USA to be growth engine is outdated." 2 An million customers pengar picked på 3 Volvo Cars' dolde policymakers 4 Yet skattesmäll SAS Carlzon, five FMV svarar idag about omstridda truck six No more djurköp på Harrods 7 Everything dangerous to Doing business in China for Swedish companies 8 A disturbing thought about low interest rates nine Traditions and language became new challenges 10 Prada accused of tax evasion
Star Economist sees Swedish bubble.
Insight
Volvo an obvious replacement for Rolls Royce
career
U.S. job figures, figures from Statistics Sweden and the CPI from neighboring countries. 1 commented