In March 2004 Glenn Labhart formed Labhart Risk Advisors Inc., a
corporation providing expertise in risk management, global
procurement and litigation support. His clientele has ranged from
corporate clients such as Merck and Co. Inc., Williams Companies
and to major law firms.
A recognized authority on trading and risk control, Labhart has
more than 12 years of experience in the design and implementation
of sound risk management processes and policies and has been a
leader in helping the energy industry define today's risk
environment and plan for the uncertainties of the future.
From August 1997 to March 2004, Glenn was senior vice president and
chief risk officer for Dynegy Inc. In that role, he was responsible
for the corporate risk oversight of a $42 billion foreign exchange,
assets and energy commodities revenue pool. In 2002, he assumed
management of the company's credit risk and corporate insurance
and, upon the acquisition of Northern Natural Gas Pipeline Company
developed the risk management program for transportation and
storage services.
During 2003, Glenn was charged with the risk management liquidation
of 285 energy and telecommunication portfolios for Dynegy's trading
entities in the UK, Canada and United States, a project that
resulted in risk reduction of $1 billion net cash flow,
approximately $4 billion of balance sheet risk, collateral
reduction of $600 million, foreign exchange risk of $200 million
(USD) and interest rate risk of $30 million.
From 2002-2004, at the request of the Dynegy Audit Committee, he
conducted internal investigations in concert with outside legal
counsel to provide an assessment of industry practices to the
Commodity Futures Trading Commission, Securities and Exchange
Commission and Federal Energy Regulatory Commission.
Prior to joining Dynegy, Labhart was head of risk management at El
Paso Energy for energy trading and marketing, and prior the merger
with Tenneco Energy the trading control officer. Earlier in his
career, he worked for Tricentrol PLC, the Metallgesellscaft
Corporation and Neste Oy, the national Finnish oil company. In
these positions he acquired a solid background in physical trading
of domestic and international products and formed business liaisons
in South and Central America, the UK, Africa, the Middle East and
all pipeline and waterborne US regions.
During his trading and risk management career, Glenn was involved
in many asset based transactions to include crude oil and refined
product storage facilities, crude oil physical transportation,
countertrade and trade finance agreements for crude oil and refined
products, crude oil processing agreements, refinery acquisition,
evaluation of tolling agreements and generation facilities, and
corporate merger activities.
In February 2002, Labhart became the first energy-industry risk
officer to receive the Financial Risk Manager of the Year Award
from the Global Association of Risk Professionals (GARP).
His professional affiliations include board memberships with GARP,
the Mays Business School at Texas A&M and the Abilene Christian
University College of Business Administration Advisory Council. He
has also been a representative to the New York Mercantile Exchange
(NYMEX) Natural Gas Advisory Committee and a member of the GARP
Energy Risk Committee and the DEDMI (Development of Energy
Derivative Market in India.
Labhart is a frequent lecturer on risk management issues, and, in
particular, the implications of the Sarbanes-Oxley Act to audiences
including industry associations, training seminars, MBA programs
and universities such as Rice University, Texas A&M University
and Columbia University on behalf of the New York Mercantile
Exchange.
Glenn holds a B.B.A. from the Abilene Christian University and is a
graduate of the Rice University Executive Management Program. He is
also a life member of the National Eagle Scout Association, and a
Board Member of the Spring Branch Independent School District
Academy of Business