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He joined Barclays Capital in early 2005 working in sales and providing advice to companies such as airlines and shipping companies, on risk management issues regarding exposure to energy prices. Before then he worked on the commodities desk at Deutsche Bank.
BarclaysÆ commodity sales and trading focuses on energy and hard commodities. Its business has reached a scale where making this hire will help the future build out of its team. Further team expansion is envisaged, especially in Japan.
Commenting on the recent pause for breath in the commodities bull-run, Norton says, "Prices will continue to rise at a measured pace. The outlook is strong over the mid-term."
Norton will be reporting regionally to Justin Bull, head of Asian distribution and globally to Jonathan Taylor, global head of commodity distribution.
Barclays Capital employs 150 staff in its commodities department, which now accounts for 11% of its total revenue. In Asia, its commodities operations are located in Sydney, Singapore and Tokyo.
Investors still favour private equity assets for their higher growth, better governance structures, and diversification potential.
The recent focus on greenwashing has put bond issues under greater scrutiny. However, some market participants believe this risks paralysis by analysis.
The AU$85 billion ($61.6 billion) Australian super fund has some exposure to indebted property developer Evergrande. Meanwhile, China’s construction finance is part of its core strategy in real estate.
Investors are seeing the risks, but also the opportunities of the logistics sector. Warehousing their fears for the moment, they can see it's a good conduit to high-growth assets.