UBS oil economist skips to Macquarie

Australia-headquartered investment bank Macquarie announced yesterday that it has poached UBS Securities' global oil economist. Jan Stuart joins Macquarie in the same position, to strengthen the bank's specialist equities platform.

Stuart has garnered experience in this field most recently at UBS and before that as head of research for energy futures at Fimat USA, which is part of Societe Generale, and at ABN AMRO. He also has experience as editor at industry publications such as Petroleum Intelligence Weekly and Oil Market Intelligence.

Stuart will be "the voice of Macquarie's oil call", says the bank in a written statement. He will be part of the research team in Macquarie Securities and will work directly with Macquarie's global energy teams in the treasury and commodities group. Stuart will be based in New York.

Macquarie's equities business now covers 1,600 stocks globally. The treasury and commodities group offers clients expertise across a range of businesses in global markets, including energy, agricultural, and investor products, futures, and others.

"Stuart's appointment comes at an opportune time, following Macquarie's recent acquisition of Constellation Energy's North American downstream gas trading business," says Nicholas O'Kane, global head of the bank's energy markets division in a written statement. "His work in oil price forecasting and his in-depth sector research capability will both benefit from and support Macquarie's global trading activity and broader commodity offering."