SEMBCORP Industries has appointed Namesh Hansjee to helm its new merchant and retail business line starting Aug 27.

Mr Hansjee, who has more than 25 years' experience in oil, gas, LNG, power, coal and carbon emissions trading, was previously a managing director at Bank of America Merrill Lynch, heading its energy trading in London. Before that, he spent over a decade at EDF Trading, the trading and wholesale arm of Electricité de France, and served for some years as the company's head of trading.

In a statement, Sembcorp said that its merchant and retail business will allow Sembcorp to "capture opportunities closer to the customer and in multiple markets, enhance competitiveness and returns, and strategically position itself to benefit from the global energy transition."

It acquired UK Power Reserve, the UK's largest flexible distributed energy generator, earlier this month in its bid to grow its merchant energy capabilities.

Its shares closed at S$2.76, two Singapore cents or 0.719 per cent lower, on Tuesday.