UK
Sector: Commodities
Is Glencore a little less attractive now?
Glencore has released its interim results this morning and provided some much needed cheer for the markets. Profits are up by 57%, even in the face of volatile trading conditions, and the outlook for commodities, it says, is rosy. All very good. Yet under the potential risks to its business, the firm has highlighted that [...]
The research role where, on average, it’s possible to earn 25% more than your peers
There’s still a job role where demand is high within investment banks, hedge funds and asset managers, poaching is rife and pay is on the increase…but firms are looking to recruit ex-geologists or engineers. Mining analysts, quite simply, are currently hot property. However, in order to be considered for a role, a deep understanding of [...]
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 [...]
Some cuts are coming to commodities, but it’s not that bad
Investment banks’ commodities desks are likely to be trimmed, but not decimated, in the coming months as part of global redundancy announcements. BarCap has taken the decision to lay off its star commodities prop trader Todd Edgar, along with around a dozen of his colleagues. They plan to set up a hedge fund by the [...]
Can you really earn 1,200 a day as an Openlink developer?
Knowledge of commodities trading software Openlink is still a relatively scarce skill-set in the City, so lucrative contract rates have always been offered to the select few who possess it. But is 1,200 a day really possible? Yes, according to the latest banking IT salary survey by recruiters Hudson, which suggests that senior Openlink developers [...]
Banks are losing oil traders, but not replacing them
Commodities trading houses are poaching banks’ oil traders with promises of larger, or at least non-regulated, bonuses. However, despite the departures, most banks are still reluctant to recruit. In recent months, banks have seen something of an exodus of talent from their oil trading desks. Both Gareth Walsh and Grant Williams left BarCap, with the [...]
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 happens if you’re a trader at Trafigura and you really don’t want to move to Switzerland?
Trafigura has moved all its traders from London to Geneva so that they can be together, ‘under one roof.’ According to Reuters, the displacement’s a done deal: it happened last week. But not everyone likes Switzerland. In January, Frederic Denjoy, a trader at Brevan Howard, who moved to Switzerland in 2010, moved back to London [...]
Follow eFinancialCareers
What is RSS?
