ABN AMRO has made several hires to bolster its U.S. and London-based commodity derivatives desks. Wayne Harburn, global co-head of commodities in London, explained that high energy prices have led to increased demand for energy derivatives, making this a good time to build up in the sector. Clients of ABN's rates markets division--within which the commodity group sits--have exposure to energy prices and are looking for ways to hedge these exposures and manage their energy risk, he added.
In New York, ABN has hired Bruno Stanziale, a senior energy derivatives marketer at Deutsche Bank. Stanziale will focus on U.S. crude oil and products markets, as well as market gas derivatives products to Canadian clients, said Harburn. Jeffrey Baird, head of oil and natural gas trading at Merrill Lynch, is also joining as a senior trader focusing on oil derivatives. The firm is hunting for an additional three senior staffers in both trading and marketing for the New York office.
