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Fortis Clearing Americas LLC is part of the Merchant Banking division of Fortis.
Fortis is the sole bookrunner, lead arranger and administrative agent.
As Managing Director he will be responsible of managing the Fortis Commodities teams in Hong Kong.
Fortis Energy Marketing and Trading (FEMT) provided a fixed gas hedge based on forward notional heat rates.
Fortis Energy Marketing & Trading was created when Fortis acquired Cinergy Marketing & Trading from Duke Energy in late 2006.
Fortis Merchant Banking will now use the Reuters Market Data System (RMDS) platform in Belgium, the Netherlands and Luxembourg, replacing the Telerate Trading Room System (TRS).
Fortis Clearing, a division of Fortis Merchant Banking, is one of the largest independent third-party clearers in Europe, Asia/Pacific and the U.
Fortis Clearing is part of the Merchant Banking division of Fortis Bank.
Waldo Abbot, CEO of Fortis North America said: "Jim was instrumental to the integration of the Cinergy Marketing & Trading business over the past year, and we are all grateful to him for his vision and contributions.
In addition, Fortis declared a quarterly Common Share cash dividend of 16 cents per share (equivalent to 64 cents per share on a pre-split basis) on the issued and outstanding fully paid Common Shares of the Corporation, payable on December 1, 2005 to the Common Shareholders of record at the close of business on November 4, 2005.
The Syndications Group at Fortis in New York consists of 11 professionals and includes Loan Syndications, Agency Services and Private Placements.
This is the second large hedge transaction Fortis has executed in ERCOT in the last month and underscores Fortis' commitment to providing the energy industry with an efficient single source for its commodity and financing needs," added Mr.