Canadian Bank Hires Amaranth Trader

Date: Monday, May 14, 2007
Author: Press Release

Bank of Nova Scotia has hired former Amaranth trader Matt Donohoe.

According to reports, the third largest bank in Canada hired Donohoe for its global energy derivatives group. He is now based in Toronto, reporting to Scotia's Geoff Matlow.

Donohoe had worked at Amaranth's energy trading desk in Calgary under star trader Brian Hunter. Last September, Hunter brought down the $9 billion hedge fund firm with a series of highly leveraged bets on natural gas that went terribly awry.

Commonly known as Scotiabank, the Bank of Nova Scotia has a history dating back to 1832. The bank employs about 57,000 people in 50 countries.