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Article: Commodity Sector Faces Exodus of Expertise
- Article from:
- Daily News
- Article date:
- March 20, 2009
- Author:
CopyrightCopyright 2009 Daily News. Provided by ProQuest LLC. (Hide copyright information)
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LONDON (Reuters) - An exodus of expertise from the natural
resources sector following the collapse in commodities prices mean
banks and industry could face a shortage of seasoned professionals
when demand eventually recovers.
Recruitment agencies think the headcount in commodity divisions
within banks and producers could eventually plunge by between 10%
and 20%.
Bonus and salary cuts also mean some people will head for the
world of fund management, which is still looking for commodity
experience, while many others will leave the sector, probably for
good.
"People will leave an industry that is already short of
experience, we've seen this before, it's cyclical," said Jakob
Bloch, managing ...