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Oil-to-metals bank staff retreating for second year: Commodities

Posted on 13 December 2012

Investment banks are cutting commodity staff for a second year and pay will probably drop for a third time as revenue declines, bonuses shrink and new regulations limit how much money traders can risk. Employees in commodity trading, sales and research at 10 top banks from Barclays Plc to UBS AG declined to 2,386 by September, from 2,612 at the end of 2011 and 2,777 a year before that, according to Coalition, a London-based research company.
Average compensation will retreat everywhere except Asia, said Tyler Jackson, the Singapore-based executive director of Options Group, which has recruited more than 10,000 financial-services workers over two decades………………………………………..Full Article: Source


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