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Banks are losing oil traders, but not replacing them

Date: 31 December 2012

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.

“Many banks’ energy trading divisions have performed well so far this year, and there’s room for expansion in their teams,” says Greg Beszant, head of commodities at Selby Jennings. “We’re hopeful that recruitment will kick-off in the second half of the year.”

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