ABN Amro plans commodity staff recruitment

Pen And Book

ABN Amro plans to add commodity staff next year in Asia where its trade-finance business is growing as China increases consumption of energy and metals.

Bloomberg reports that the region now accounts for about 25% of the 250-strong commodity team, said Jan-Maarten Mulder, global head of commodities.

The planned increase in Asia will be toward the high end of single digits in percentage terms, said Jacqueline Chang, head of the Singapore commodities team.

ABN Amro’s plan contrasts with reductions at the world’s 10 largest banks, which collectively pared global commodities staff this year to the lowest level since at least 2009, according to analytics firm Coalition. ABN Amro said in March it’s seeking to boost international operations, including commodity financing, to lower reliance on the Netherlands. China, the largest user of energy and copper, will expand 7.5% next year, the median of economists’ forecasts tracked by Bloomberg shows.

To access the complete Bloomberg article hit the link below:

ABN Amro to Add Commodity Staff in Asia as Demand Increases

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