Bloomberg – Glencore International AG, one of the world’s biggest traders of oil, coal and metals such as zinc, had a special musical guest for its last Christmas party: Sting.
Employees of the Baar, Switzerland-based company are expecting another headliner this year, after oil prices soared to records and metals from aluminum to gold rose to their highest in more than a decade, sparking competition for commodities traders.
Banks such as Citigroup Inc. and JPMorgan Chase & Co., and hedge funds including the $12 billion Citadel Investment Group LLC are adding energy and metals traders to profit from high prices and increased volumes. Top energy traders may receive bonuses of as much as $10 million this year, up 50 percent from 2004, as firms fight to attract and retain talent.
