HK
Sector: Commodities
The ups and downs of recruiting RMs in second-tier Chinese cities
Foreign banks are speeding up their expansion into second- and third-tier cities in China. Recently, for example, Citibank and BEA have set up branches in Hunan province: There are job openings across 13 departments in BEA alone. But when banks need relationship managers in regional centres, a small talent pool can hamper their hiring. Emma [...]
Banker at the Top: Q&A with Standard Chartered’s commodities boss Arun Murthy
If university studies strictly dictated what you did for the rest of your life, Arun Murthy would have been an engineer. Instead he changed track and is now the global head of commodities trading, Standard Chartered Bank. Prior to joining the firm in 2008, Murthy headed the Asia Pacific commodities business at Lehman Brothers and [...]
Let’s get physical: Commodities growth will generate jobs this year
As Asian countries attempt to deal with climbing commodities costs this year, banks in Singapore continue their search for commodities traders. “Asia is asserting its place of importance on the ‘global commodities scales’, with Singapore remaining the preferred location to manage or launch this business, outside of China,” says Dominic Mound, consultant, Commodity Appointments. Société [...]
Commodity bonuses to take a tumble
Commodity traders in Singapore, similar to their peers on Wall Street, could see their bonuses fall by as much as 75% as prices of oil and precious metals plunge. “We are hearing anywhere from 60% to 75% cuts,” says Deborah Sawyer, partner at executive recruitment agency Odgers Ray & Berndtson. According to global estimates by [...]
SMX steps up hiring
The new Singapore Mercantile Exchange (SMX) is searching for staff as it prepares for trading in early 2009. SMX is looking to boost its current 15-strong headcount, according to a director-level spokesman. He tells us: “We are recruiting aggressively at the moment and expect to have about 75 staff in place by the time we [...]
Commodities and IT: the perfect match?
The growth of the commodities sector in Singapore is starting to create employment opportunities for IT professionals. The opening of the Singapore Mercantile Exchange (SMX) in early 2009 should lead to more IT recruitment activity as Singapore-based banks look to link to the exchange and develop their pricing and risk capabilities, according to Brett Marsh, [...]
Commodities spree at JPMorgan
JPMorgan is boosting its commodities headcount, in a sign that big banks in Hong Kong and Singapore are finding some solace in this sector. The i-bank employs 42 front office commodities staff in Singapore, including a dozen recent recruits, its third largest team after New York and London. The newcomers are mainly sales and marketing [...]
Commodities jobs soar as wave of money hits markets
Despite the sub-prime mortgage crisis that has led to billions in losses at banks and securities firms, demand for commodity specialists is still going strong. “Goldman and Morgan Stanley, the biggest commodities houses on Wall Street, are not going to stop hiring talented traders in Asia anytime soon,” observes an energy trader. The bulge-bracket banks, [...]
HSBC’s hunting for trade financiers – and so is everyone else
HSBC is cranking up hiring in structured trade finance (STF) as the sector emerges as a stable source of business despite the credit crunch. It’s already poached Sharon Tan from Standard Chartered, and its ambitions don’t stop there. Michael Lim, head of Asia Pacific STF for HSBC, tells us he is currently looking for a [...]
Singapore challenges Hong Kong in commodities
Singapore may be gaining an edge over Hong Kong in the commodities sector as banks seek to beef up their teams. Lehman Brothers, for example, uses Singapore as a centre for regional commodities trading, while UBS moved Stuart Fox, its head of commodities for Asia-Pacific, from Hong Kong to Singapore earlier this month. Many financial [...]
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