Fed rules seen speeding commodity trader exodus from banks
New York
THE spread of business and talent out of Wall Street and into merchant trading firms will probably accelerate after the Federal Reserve's new bid to restrict bank commodity holdings, according to one employment specialist.
The rules proposed last Friday will be another boon for merchant houses including Trafigura Group Pte and Vitol SA, which already are luring employees away with the promise of better pay and less red tape, said Ross Gregory, managing consultant at Commodity Search Partners, a London-based employment company.
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