Discover your dream Career
For Recruiters

The News: Citi to Add 100 Commodities Slots

Commodities hiring is getting a boost from Citigroup's forced sale of its Phibro oil trading business.

Citi is planning to expand its front-office contingent of commodities traders and bankers by 100 people or 40 percent over three years, the Financial Times reports. The hiring spree aims to rebuild the bank's presence in commodities after regulators effectively forced Citi to divest the highly profitable Phibro unit last year.

"The sale of Phibro has freed up considerable capacity for us to expand ... (and) invest in building out a client-facing oil business," Stuart Staley, Citi's new global head of commodities, told the FT. Staley will relocate from Houston to London in April.

Meanwhile, rivals such as JPMorgan are growing in commodities through both acquisition and organic growth.

Citi Beefs Up Commodities Business [FT]

Nomura U.S. Hiring Spree Key To Global Ambition [Reuters]

SEC to Beef Up Its NYC Office In 2010 [Reuters, via NY Times]

It's a Living: Benefit Gives HSBC Chief More Cash [WSJ]

Ex-AIG Top Lawyer Who Quit Over Pay Joins DLA Piper [Bloomberg News]

author-card-avatar
AUTHORJon Jacobs Insider Comment

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Latest Jobs
First Derivative
Senior Data Migration Analyst
First Derivative
New York, United States
Deutsche Bank
Investment Operations Specialist
Deutsche Bank
Jacksonville, United States
Deutsche Bank
Trader - Vice President
Deutsche Bank
New York, United States
Deutsche Bank
Flow Credit Trader - Director
Deutsche Bank
New York, United States
Deutsche Bank
High Yield, Trader - Vice President
Deutsche Bank
New York, United States
Deutsche Bank
Internal Consultant - Sales
Deutsche Bank
Chicago, United States

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.