No slowing in Q2 commodity hires by banks headhunter

Banks hunted aggressively for commodity specialists in the second quarter as investors chasing the rally in raw materials provided incentives for more hiring in the sector, a commodities headhunter said on Monday.

"Many investment banks see their commodities teams as core to their business especially as other revenue streams dry up in these difficult times," said Human Capital, a U.K.-based consultancy with clients across Europe, North America, Asia and the Middle East.

"The sharp rise in energy prices has seen an increase in investors wishing to be exposed to commodities as well as consumers needing hedging solutions in these uncertain times," the company said in a quarterly market review, made available to Reuters.

It said Deutsche Bank hired five specialists for its U.S. power and gas trading units located in Houston.

Human Capital said Deutsche also hired Assad Ahmad, a former UBS (UBSN.VX: Quote, Profile, Research) executive, for its crude trading operations in New York.

UBS lost some senior talent in commodities to rivals during the second quarter due to wider issues at the bank, the headhunter said.

UBS, once the symbol of Swiss banking solidity, is Europe's biggest casualty of the global crisis triggered by risky U.S. home loans and has written off $37 billion of dud investments.

http://uk.reuters.com/article/ousiv/idUKN2850585720080728

Email to a friend email

Print version print

Comments

Business Financial Services

No slowing in Q2 commodity hires by banks headhunter