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Arbuthnot launches commodity trading desk
by David Campbell on Mar 12, 2013 at 10:35
Arbuthnot Latham is to launch a dedicated execution-only commodities trading desk for its private clients, following a growing number of requests for brokerage in the asset class.
The bank currently offers an equivalent currency desk and aims to expand into commodities later this year. Both will be managed as part of their banking service, and will remain distinct from the company’s investment and financial planning divisions.
‘We already do FX dealing for clients, and we have seen more and more clients coming to us to ask about commodity trading,’ said Arbuthnot Latham chief executive James Fleming (pictured).
‘It is a pure, non-advised execution-only service for clients, and we will not be trading our own book.’
The company is currently looking for a dedicated team to manage the desk, Fleming said in a wide-ranging profile with Wealth Manager, in which he also revealed that the company is looking for potential acquisition targets in the advisory sector.
Fleming joined the business last March and has since hired a series of new bankers to expand the company’s client base overseas, particularly in the Middle East, and among UK-resident non-domiciles.
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