LONDON, Dec 5 (Reuters) - Standard Chartered hashired Paul Horsnell as the firm's head of commodity research,the company said in a statement on Thursday, as it continues toexpand its energy, metals and grains trading division even asother firms retreat.
Horsnell was head of commodity research at Barclays for 10 years before leaving the firm in April.
Many banks have been scaling back their commodity businessesin the face of lower margins and increased regulation, but somehave continued to invest in the sector.
A former professor at Oxford University, Horsnell is one ofthe best known energy analysts in the industry, and is creditedwith being one of the first to predict the surge in oil pricesin the last decade.
Horsnell will report to Will Oswald, global head of fixedincome, credit and commodities (FICC) research at StandardChartered.
"Paul's significant experience gained within a number ofindustry roles will be invaluable, as we continue to grow ourglobal commodities business," Oswald said in statement.
Barclays (BARC)