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Some cuts are coming to commodities, but it's not that bad

Date: 01 August 2010

Investment banks’ commodities desks are likely to be trimmed, but not decimated, in the coming months as part of global redundancy announcements.

Outside of the prop trading desks, however, the situation isn’t that bad. Research by analytics firm Coalition (cited by Financial News) shows that the major investment banks’ commodities divisions revenues were up by around 25% in the first half compared to the same period in 2010, despite some slow down in the second quarter.

Recruiters don’t expect commodities desks to be entirely sheltered from redundancies, but are anticipating any cuts to be minimal.

Greg Beszant, head of commodities at Selby Jennings, says: “Some investment banks are likely to restructure their commodities trading teams, but others still have a lot of replacement hiring to do. We’re also seeing more recruitment away from the traditional gas and power sectors and more banks expanding in steel and freight.”

Read the full article on eFinancial Careers

Tagged In: Selby Jennings
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