Plenum Investments announce hiring of Jukka Virtala

Plenum Investments announce the hiring of Jukka Virtala to join the team managing Plenum Power Series. Virtala has decided to leave his position as Chief Trader at Vattenfallen Trading Services AB in Stockholm, Sweden and will be joining the Zurich based hedge fund.

“We are extremely pleased to have Jukka join our team, our goal is to be the number one hedge fund in the European electricity space, and having Jukka on our side will be a big step in that direction” said Raimond Schuster, CEO of Plenum Investments. The current team has performed very well historically and most recently in 2008. Adding Jukka will bring an additional dimension to the team since he has an excellent understanding not only of NordPool but also the German market as well as the different thermal market which rapidly are becoming increasingly important, continued Schuster.

Virtala has accumulated a wide base of knowledge since his start in the Swedish electricity market in 1981. Virtala started doing electricity deals as early as 1988 and he has extensive experience as an operation engineer, including planning, ordering and monitoring of power production as well as evaluating water reservoirs and transmission capacities on the national grid. Virtala has also worked as portfolio manager for many years and most recently as the Chief Trader at Vattenfall Trading Services AB in Stockholm.

“Jukka will be a strong contributor to the team; his performance speaks for itself, of all possible people to join the team, he was definitely my number one choice” said Henrik Wennberg, Head Trader of Plenum’s Power Series.

In July 2009 Torgeir Terjesen will, due to retirement, leave his position with Plenum Investments AG. This event has been planned since 2008 and does not affect the trading setup with regards to the Plenum Power Series.