Wednesday, March 3, 2010

Citigroup (NYSE:C) Expanding Commodities Business

Citigroup Commodities Business

Looking to commodities as a serious growth sector, Citigroup (NYSE:C) will be hiring and preparing for expansion in the unit over the next three years, increasing the number of traders or bankers in the division by about 40 percent. At this time they employ about 235 people, with plans to grow that to 335.

Of particular interest in the unit is to build out what global head of commodities for the company, Stuart Stanley, calls "a client-facing oil business."

Along with oil, Stanley is looking to the natural gas and metals sectors to target as well going forward.

Part of the strategy of Citigroup will be to build up scale in a number of raw material sectors to compete strongly in the lucrative commodity market.

Citigroup Commodities Business

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