#What led to the departure of Teoman Guler from DRW Holdings?
Teoman Guler, who previously led North American gas and power trading at DRW Holdings, has left the company following a significant $176 million loss linked to unpredictable price fluctuations during a recent winter storm. His resignation adds to a growing trend of senior leaders exiting DRW’s energy trading desk, which is based in Chicago. Guler had been in his position since May 2022 and faced a challenging environment where natural gas and power prices swung violently, transforming what should have been a manageable situation into a considerable financial impact.
#Who else has left DRW Holdings?
Guler is not alone in his resignation. In February 2026, fellow traders Michael Kennedy and Adam Findlay departed from the firm’s Houston office due to similar volatility issues that had destabilized the energy trading unit. This pattern illustrates an ongoing issue within the trading team at DRW, known for its extensive reach across various markets, including equities, fixed income, crypto, and commodities.
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#Has DRW Holdings faced similar challenges before?
DRW’s energy desk is no stranger to obstacles related to market volatility. In 2021, the firm undertook a major restructuring of its entire energy trading unit, leading to the departure of several senior employees. The hiring of Guler in 2022 appeared to be a strategic move to stabilize the team after the previous upheaval. The recent loss of $176 million indicates a critical moment for the firm, prompting potential internal discussions regarding capital allocation and the overall risk appetite in their trading strategies.
#What impact do these developments have on energy trading?
It is important to consider that DRW Holdings has successfully operated its dedicated crypto asset trading desk, known as Cumberland, since 2014. This segment of the business has significantly contributed to the firm's overall portfolio. The losses and leadership changes highlighted are confined to the traditional energy sector, excluding the digital asset arena. As these developments unfold, they may not only redefine the operational dynamics within DRW Holdings but could also signal broader implications for the energy trading landscape.