Lunchtime links: Commodities traders are suddenly very attractive

Commodities is fast becoming one of the places to be if you want to earn big bucks this year. Barclays Capital is rumoured to have offered five JPMorgan commodity traders 30m to move, but other banks also seem willing to dig deep.

Bloomberg reports that a surge in oil and copper prices are spurring firms to recruit commodities traders once again, and those at the top of their game are being offered guaranteed bonuses worth at least $1m.

Bank of America, Barclays Capital and Morgan Stanley are among those banks bolstering their commodities teams.

George Stein, managing director of headhunter Commodity Talent, said: "These bonuses would be for new hires who are 'movers and shakers', those who can double the size of business within a short period of time."

But Jason Kennedy, chief exec of headhunter Kennedy Associates, suggests banks are offering these lucrative guarantees for less proactive reasons: "The business is picking up and banks had trimmed so much they are making emergency hires."

FSA recruitment drive stemmed by Tories plans (Financial Times)

JPMorgan contacts watchdog over BarCap's bumper bonus offer (Financial Times)

Michael Page thinks worst is over for the UK jobs market (Guardian)

France wants to ban guaranteed bonuses (Bloomberg)

Legislation will destroy the City (Times)

Broking chief gives perspective on bonus reforms (Telegraph)

Boom in equity derivatives hiring (Financial News)

Bankers lacking shame (FT Alphaville)

Pension fund could pay investment team big bonuses (Telegraph)

Deutsche Bank hires for UK private bank (Financial News)

Andrew Hall may be paid in stock rather than cash next year (Bloomberg)

Morgan Stanley hires top debt banker from Goldman in Asia (Reuters)

Barclaycard award huge bonuses for not promoting chief exec (Times)