Barclays hires Asian commodities head

Barclays Capital has named Russell Norton in a new post of director and head of commodities for Asia, handling its planned growth in sales and trading. He will be based in Singapore.

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.