RBC Hires Standard Bank’s Garner as Metals Head in New York

March 18 (Bloomberg) -- RBC Capital Markets, the investment bank owned by Royal Bank of Canada, hired Standard Bank Plc’s Bruce Garner as head of its metals business and said it may add more traders.

Garner will be a managing director based in New York, where he’ll oversee global base and precious metals, RBC said today in an e-mailed statement. He’ll report to Bruce Macdonald, head of commodities and electronic trading.

RBC seeks to increase its commodities trading “in a measured way” to match its corporate business and plans to hire more staff, Macdonald said today in a telephone interview, without giving a number. The bank will keep its focus on metals and energy, he said.

Garner left Standard Bank in November, where he was Singapore-based head of commodities. Before that, he was in charge of commodities sales in Europe and the Americas for Deutsche Bank AG, RBC said.

To contact the reporters on this story: Doug Alexander in Toronto at dalexander3@bloomberg.net; Chanyaporn Chanjaroen in Singapore at cchanjaroen@bloomberg.net; Maria Kolesnikova in London at mkolesnikova@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net