Citigroup hires Asia-Pac commodities investor sales head

Citigroup Inc. said Wednesday it hired Phil Kemke to head investor sales for commodities in the Asia-Pacific region, a newly created position at a time when investment banks around the region are increasing their exposure to the booming resources trade. Kemke will start in mid-August and will be based in Singapore, Citigroup said. Kemke was previously head of investor sales for commodities at JPMorgan Chase & Co. . In the past three years, Citigroup has expanded its commodities team in the region to close to 20, from three, Citigroup spokesman James Griffiths said. Citigroup's Asia-Pacific commodities team, which three years ago traded oil and base metals, now trades oil and oil products, precious and base metals, coal, freight, emissions and soft commodities. "Major themes in the last twelve months have been an increased... [read full story]