Alan Koh has assumed the role of global head of energy sales at Standard Chartered in
Other recent additions include Karan Chabria as head of oil products trading, formerly managing director of Singapore-listed Chemoil; and Wong Lee-Koon, who will be responsible for Northeast Asia strategic commodity sales. Wong was previously in commodity sales at Goldman Sachs at Singapore.
Meanwhile, Hew Min Choon moved to Standard Chartered in May as head of palm oil trading from Bermuda-based food conglomerate Bunge in Singapore, where he was a palm oil trader. And Ben Corbould joined late last year as head of
All are newly created positions designed to capitalise on the bullish view that many are forming on various commodities in Asia, says the bank, which anticipates demand for natural resources in
“Economically and industrially, Asia is the fastest growing region in the world," says Arun Murthy, global head of commodities trading at Standard Chartered in Singapore. "Over the next 20 years, the demand for commodities will grow more quickly in Asia than in any other region of the world, and the fastest growth will be seen in Asia’s developing countries”.
Standard Chartered hopes to offer services across the commodity spectrum from energy and metals to agricultural products. Additionally, the bank plans to build out services linked to coal, iron ore, palm oil and rubber.
Meanwhile, Credit Suisse’s Kristian Thunes relocated from
“We are seeing increasing use of commodity derivatives by corporates and institutional clients in the region,” says Alexander Toone, Asia-Pacific head of commodities at Credit Suisse in
Nomura, which took over the Lehman Brothers commodity business in 2007, hired Shaun Lim in June as head of oil and oil products trading. He reports to Sean Brecker, head of commodities trading for
Meanwhile, a host of iron-ore traders have begun operating over the past year in response to the growing number of small iron-ore producers entering the market for the first time and fundamental changes in the pricing mechanism. The commodity earlier this year moved to quarterly pricing linked to spot prices from its previous annual pricing system.