Macquarie Hires From Big Oil to Boost Carbon Offsets Team

Macquarie Commodities and Global Markets, a unit of one of Australia’s biggest investment banks, hired three people from major oil companies to join its carbon offsets team.

Andrew Gaballa, who will be head of structured transactions and sales, and Jun Song have both joined from Shell Plc. German Tyeles is moving from Vitol Holding BV, the world’s biggest independent oil trader. Suraj Vanniarachchy has joined from climate finance specialist Natural Capital Partners Europe Ltd.

Demand for carbon offsets, or credits for removing emissions, is soaring and the market could be worth $100 billion by the end of the ...