draft organizational announcement about japan may i please have your comments if any on this draft by close of business wednesday . we hope to have agreed on the q & a ' s by then and to send it out the announcement on thursday .
john
to be sent to : all enron europe , all employees in japan , all global markets and all vps and up around the company
enron has established several wholesale businesses in japan in the last year including metals , power plant development ( via our investment in encom ) , coal , lng & weather . though japan continues to make progress towards a liberalized electricity market , significant barriers to power trading remain under the current interim market structure . until further tangible steps are taken to improve third party access for electricity in japan , we will suspend our power marketing efforts and focus on the significant opportunities that currently exist in our other wholesale businesses . once the necessary regulatory changes have been completed we expect to aggressively pursue enron ' s traditional position as the leading buyer and seller of electricity in every deregulated market .
based on these changes joe hirl our president of enron japan will move to the global markets group and lead a team that will focus on developing all our global markets opportunities in japan especially weather , oil , lng , coal , and shipping . we expect to continue our general recruiting of japanese nationals and as president of enron japan , joe will continue to provide the overall business leadership to both recruiting and the analyst and associate program in japan . the finance origination team headed by jeremy thirsk will continue to report to joe and also move to global markets . our power trading group led by morton erik pettersen will transition into other roles around enron . the equity / fx / interest rate team which is a part of global markets has two employees in the tokyo office today and they expect to expand their efforts throughout the year .
the encom group , which is our power plant development business ( with minority partners ) and headed by carey sloan will continue its efforts in developing power plants in japan . we are pleased with the progress we are making on a number of sites and encom will continue to report to the enron europe office of the chairman .
our metals team headed by kazunari sugimoto will continue to report through enron metals in london .
by may we expect enron credit to have two to three employees in tokyo pursing the credit derivative business . these employees remain in enron credit , a part of enron europe .
ebs has two employees headed by jim weisser and this team expects to expand by year end .
the industrial markets team also expects to have two employees in the tokyo office in the next couple of months .
in the last seven months the commercial support services for japan have been transitioned to london for support and this is not changing . jane mcbride heads the legal team and will continue to functionally report to mark evans , general counsel in london . the rac function will continue to report to ted murphy , head of rac for enron europe . the risk management and accounting team is headed by jan - erland bekeng will continue to functionally report to fernley dyson in london . the it , hr , tax and real estate teams will also continue to functionally report to london .
nick o ' day who heads both the public affairs group ( government & regulatory affairs and the public relations ) in japan will report to the enron europe office of the chair with a public relations functional reporting to jackie genle in london and a government affairs functional reporting to rick shappiro in houston . we anticipate that his team ' s efforts will be primarily directed to supporting the encom power plant development team but he will also continue to provide support for global markets , ebs & industrial markets .
we have already made considerable progress in breaking into the japanese markets across a wide range of enron businesses and we anticipate that this will be a major profit center for profit growth for years to come . through these current changes we can demonstrate our ability to be flexible and target our resources where they will realise the most immediate value for the company .
draft organizational announcement about japan
may i please have your comments if any on this draft by close of business wednesday . we hope to have agreed on the q & a ' s by then and to send it out the announcement on thursday .
john
to be sent to : all enron europe , all employees in japan , all global markets and all vps and up around the company
enron has established several wholesale businesses in japan in the last year including metals , power plant development ( via our investment in encom ) , coal , lng & weather . though japan continues to make progress towards a liberalized electricity market , significant barriers to power trading remain under the current interim market structure . until further tangible steps are taken to improve third party access for electricity in japan , we will suspend our power marketing efforts and focus on the significant opportunities that currently exist in our other wholesale businesses . once the necessary regulatory changes have been completed we expect to aggressively pursue enron ' s traditional position as the leading buyer and seller of electricity in every deregulated market .
based on these changes joe hirl our president of enron japan will move to the global markets group and lead a team that will focus on developing all our global markets opportunities in japan especially weather , oil , lng , coal , and shipping . we expect to continue our general recruiting of japanese nationals and as president of enron japan , joe will continue to provide the overall business leadership to both recruiting and the analyst and associate program in japan . the finance origination team headed by jeremy thirsk will continue to report to joe and also move to global markets . our power trading group led by morton erik pettersen will transition into other roles around enron . the equity / fx / interest rate team which is a part of global markets has two employees in the tokyo office today and they expect to expand their efforts throughout the year .
the encom group , which is our power plant development business ( with minority partners ) and headed by carey sloan will continue its efforts in developing power plants in japan . we are pleased with the progress we are making on a number of sites and encom will continue to report to the enron europe office of the chairman .
our metals team headed by kazunari sugimoto will continue to report through enron metals in london .
by may we expect enron credit to have two to three employees in tokyo pursing the credit derivative business . these employees remain in enron credit , a part of enron europe .
ebs has two employees headed by jim weisser and this team expects to expand by year end .
the industrial markets team also expects to have two employees in the tokyo office in the next couple of months .
in the last seven months the commercial support services for japan have been transitioned to london for support and this is not changing . jane mcbride heads the legal team and will continue to functionally report to mark evans , general counsel in london . the rac function will continue to report to ted murphy , head of rac for enron europe . the risk management and accounting team is headed by jan - erland bekeng will continue to functionally report to fernley dyson in london . the it , hr , tax and real estate teams will also continue to functionally report to london .
nick o ' day who heads both the public affairs group ( government & regulatory affairs and the public relations ) in japan will report to the enron europe office of the chair with a public relations functional reporting to jackie genle in london and a government affairs functional reporting to rick shappiro in houston . we anticipate that his team ' s efforts will be primarily directed to supporting the encom power plant development team but he will also continue to provide support for global markets , ebs & industrial markets .
we have already made considerable progress in breaking into the japanese markets across a wide range of enron businesses and we anticipate that this will be a major profit center for profit growth for years to come . through these current changes we can demonstrate our ability to be flexible and target our resources where they will realise the most immediate value for the company .