Macquarie Hires Assumall for New Commodity Products Business

Macquarie Group Ltd. (MQG) hired Arun Assumall to be global head of a new commodity investor products business.

Assumall will join the bank in London in June, Macquarie said in an e-mailed statement today. Assumal spent 11 years at Goldman Sachs Group Inc. (GS), where he was global head of the commodity investor sales team, according to the statement. Sophie Bullock, a spokeswoman at Goldman Sachs, confirmed that Assumall had worked at Goldman.

“We see this as a significant opportunity to gain market share in an area where there is an increasing investor demand for alternative assets,” Sebastian Barrack, senior managing director of the fixed income, currencies and commodities group at Macquarie, said in the statement.

To contact the reporter on this story: Maria Kolesnikova in London at mkolesnikova@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter in London at ccarpenter2@bloomberg.net

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