Risk Advisory Division Launches Power Desk

Braemar plc (LSE: BMS) announces the launch of a dedicated Power brokerage desk within its Risk Advisory (Securities) division, led by Alastair Richardson. Alastair joins from Tradition Financial Services, one of the world's largest interdealer brokers, where he was Head of Power and Coal. He brings over 15 years' experience in energy markets, specialising in power and related commodities.

The new desk, based in Dubai, extends Braemar's derivatives offering into electricity markets and delivers on one of the specific objectives the Group set itself for this financial year.

The Power desk is the latest addition to the Risk Advisory division, adding to the existing Forward Freight Agreement, Coal, Natural Gas, JKM (the key LNG pricing benchmark for Asia) and Cross-Commodity Option desks, which have grown over recent years. Each addition has broadened the Group's capabilities and service offering to clients.

As freight, energy and commodity markets become progressively interconnected, clients are increasingly looking for a broker that can provide insight, liquidity and risk-transfer solutions across markets through a single relationship. Power strengthens that proposition, connecting another critical part of the energy complex to our existing expertise and relationships.

Grant Foley, Group Chief Executive Officer, said:

"Establishing a new Risk Advisory desk was one of the specific targets we set ourselves for this year as we grow the division to £30m revenue by FY30 as part of the objectives set out in our strategic framework. The launch of the Power desk delivers on that and is a further example of the Group investing to build a more diversified and resilient business. The infrastructure, compliance and governance we have built up over recent years allows us to attract talent and build new desks with the opportunity for further growth going forward."