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Sector: Commodities
Late Lunchtime Links: These are the Chinese firms which will be hiring you soon
First, BarCap decided London-based commodities trader Todd Edgar was surplus to its current requirements. Now JPMorgan has been found to have transferred various commodities traders to Singapore. Bloomberg says JPMorgan has covertly moved Will Shropshire, its global head of agricultural commodities trading from London to Singapore in order to increase its focus on Asia. It’s [...]
A brief analysis of the educational attributes and career history of Glencore’s billionaires
It’s too late to get a job at Glencore now, but in case you’re wondering who those billionaires are and what they did to arrive in a situation of such extreme wealth, here’s where they went to school and what they’ve done since. Ivan Glasenberg, 54 Fortune: 15.8% of Glencore, worth 6bn Nationality: Swiss (since [...]
Is Glencore a closed shop?
This won’t apply if you’re Tony Haywood, but if you’re a mere mortal, maybe Glencore’s a little bit difficult to get into. When Glencore issued details of its flotation today, it also revealed that: Glencore senior management has more than 200 years aggregate experience working together, yet an average age of just 46. Combined with [...]
Nomura is making a sudden and disturbing pullback from commodities
In a possible indication of further FICC reversals to come across the industry, Nomura – which had been vigorously building a commodities business – has changed its mind. Sparkspread reported yesterday that the Japanese bank has decided to close its global energy and soft commodities business, at the possible cost of hundreds of jobs. Today, [...]
What would conceivably inspire someone to work in commodities at UBS?
UBS is getting back into commodities! After deciding to close a lot of its commodities business in 2008, it’s getting back in! It’s also hiring lots of people. According to Bloomberg it wants to hire another 40 people over the next 18-24 months. According to the Financial Times it will be prioritising agricultural commodities. All [...]
Why you may wish to avoid Gazprom, or not
Gazprom is hiring a lot of people. According to the Financial Times, it wants to recruit, ‘up to 600 staff in London’ for its Gazprom Marketing and Trading business. The hires are to happen over an unspecified time period in the future. They will be accompanied by a move out of Gazprom’s current offices in [...]
Should you be trying to get into commodities too?
Equities, credit and FX trading aren’t what they were. According to one headhunter, this realisation is driving a sudden enthusiasm for working in commodities. “Fixed income and equity traders are desperately trying to get into commodities,” he says. “But it’s almost an impossible to move to make in this market.” Commodities traders haven’t exactly been [...]
Who is Jean Bourlot, the notorious agricultural commodities trader?
Jean-Rene Bourlot is back. According to the Financial Times, he’s joining UBS as head of commodities. This is because, after closing its commodities team a year ago, UBS is….rebuilding it again. But who is Jean? And why is he so, ‘colourful’? 1) He’s a graduate of the European business school in Paris Jean Boulot is [...]
Unfortunately, JPMorgan may not be the only one making redundancies in commodities
JPMorgan’s commodities business hasn’t been having a good year. Chan Bhima lost $130m on a disastrous coal trade. And up to 50 commodities salepeople and traders, most of them in London, have been made redundant following the purchase of RBS Sempra. Credit Suisse, on the other hand, is supposed to be growing its commodities operations. [...]
A sign that you should be working for Trafigura?
The Financial Times has got hold of a bond prospectus issued by the secretive Swiss trading house Trafigura. It reveals a surprising level of profitability. Trafigura has declined to share its prospectus with us, but based on the FT’s report of its contents we can disclose that in 2009 Trafigura made a profit of $1bn. [...]
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