Commodities
Hedge Funds Are Luring Away Banks’ Top Commodity Index Traders
- Morgan Stanley, Goldman lost traders to hedge funds last year
- Investors’ interest in materials increases amid outsized gains
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Hedge funds and energy trading shops are scooping up index traders from banks, looking to capitalize on investors’ increasing interest in materials and the sector’s rising potential for outsized returns.
Top index traders who have left banks for hedge funds recently include Will Scott, who stepped down as global head of commodities index trade at Morgan Stanley to join Verition Fund Management LLC in November. Dan Deighton, the former global head of commodity index and agricultural products trading at Goldman Sachs Group Inc., jumped ship to Balyasny Asset Management a month earlier.