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ANZ Bank Says Global Commodities Team Grows 25% Over One Year

Dec. 9 (Bloomberg) -- Australia & New Zealand Banking Group Ltd.’s global commodities team has expanded about 25 percent from a year ago, said Kevin Foley, a spokesman at the Sydney- based bank.

There are 57 people in energy, metals and agriculture, Foley, said yesterday in an e-mailed reply to questions. The hiring was across the board in all commodities “as ANZ seeks to grow the global commodities business,” he said.

Banks focusing on the Asia Pacific region are increasing headcounts in raw materials as demand from China, the largest user of metals and grains, helped drive a rally of prices from copper and coal to sugar and cotton. Copper rose to a record today and gold touched the highest ever this week.

ANZ hired Eddie Listorti in September as global head of foreign exchange and commodities from Dresdner Kleinwort, according to Foley.

Prices of raw materials as gauged by the Thomson Reuters/Jefferies CRB Index has climbed 12 percent this year, and reached a two-year high on Dec. 7.

Standard Chartered Plc, which makes most of its profit from Asia and the Middle East, said last month it will boost its commodities team by 10 percent next year as revenue climbed.

To contact the reporter on this story: Chanyaporn Chanjaroen in London at cchanjaroen@bloomberg.net

To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net

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