JP Morgan and Bank of America Merrill Lynch have both hired
several people in their Asia Pacific commodities teams, betting
at least in part on continued growth in Asian economic output
and consumption of raw materials.
The seven hires by JP Morgan and five by Merrill Lynch
followed Citigroup’s recruitment of Ted Huang in
August as a director in origination to grow its energy
derivatives business in Asia.
Terence Noe, Asia Pacific head of exchange-traded commodity
derivatives at UBS in Singapore, said the banks’
focus in Asia had been concentrated in the mining and energy
"Singapore is an energy region. In fact, it’s a
global energy hub. It makes perfect sense to set up an energy
team here, and for base metals it is the same," Noe said.
"It’s a China story. China is a big consumer now
of base metals. To have an office nearby makes perfect
At JP Morgan, the new staff are in its commodities and
energy sales and trading team.
Justin Hyde will be head of Asia investor sales and
structuring; Subhramit Das a senior commodities structurer; and
Motoki Iida a Japanese oil product trader.
Hyde was previously Barclays Capital’s head of
Asia commodity investor solutions. Das joins from UBS while
Iida comes from Morgan Stanley.
The bank has also recruited Morgan Stanley’s
Ken Leask as a crude trader, Daniel Soong as a senior oil
derivatives trader and Damian Yang Meng Au as a senior coal
David Max Seng Wang is joining JP Morgan as a senior metals
marketer from Goldman Sachs, where he worked in commodity
Meanwhile, Bank of America Merrill Lynch’s head
of commodities Asia Pacific, Diego Parrilla, has recruited
several senior officials.
Peter Beaumont joins in Sydney as managing director and head
of metals and mining sales and origination for Asia Pacific.
For the past 10 years he has been global head of metals sales
and trading at UBS.
Paul Wright moves after 13 years at Chevron to be BofA
ML’s head of commodities oil and gas origination
for the region, based in Singapore.
In Hong Kong, John Bao Vu will be director and head of
complex options trading, Asia Pacific. He moves from Deutsche
Bank in Hong Kong, where he was a director in commodities.
Prakash Shah rejoins Merrill in Mumbai as director and head
of India commodity solutions. He spent the last year in the
commodity sales and trading group at RBS Sempra in Mumbai.
Before that, he traded metals for three years at Merrill Lynch
Finally, Celina Zhang joins in Singapore as director of
commodity solutions Greater China. She has left Goldman Sachs,
where she was an executive director of commodity marketing,
focused on energy corporate clients in Greater China. She
previously spent three years at JP Morgan Singapore as
vice-president in commodity derivatives marketing and four
years at Sempra Energy Trading.
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