While other financial markets struggle, commodities maintain a strategic attraction to banks. A structural shift towards long-term higher demand from China and other industrialising economies makes a persuasive argument for adding staff when other divisions are contracting human resources departments need to show a great deal of contrarian and intellectual rigour to resist.
So, it was not surprising that Citi announced two further appointments to its Asia commodities operation yesterday, building on major hires last year. Matthieu Lauras has joined as head of commodities investor sales Asia-Pacific. Based in Singapore, he will concentrate on boosting the bank’s sales platform, servicing regional financial institutions and sovereign wealth funds.
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