Oct. 9 (Bloomberg) -- ABN Amro Group NV plans to build metals brokerage business in London and Singapore as early as next year as it aims to double its revenues from commodities by 2017.
“We are keen to develop to establish our metal brokerage business, which we now only do out of New York,” Piet-Hein Ingen Housz, head of metals and steel at ABN Amro, said in an interview in London. “We want to be present in the three main time zones either in 2014 or 2015. This also depends on the opportunities to hire the right people.”
ABN Amro aims to double the size of commodities business in terms of revenue by 2017 and also expand the number of staff considerably, Jan-Maarten Mulder, global head of commodities, said in the interview on Oct. 7.
The bank will need a team of about 6 traders to re- establish its LME metals brokerage in London and Singapore, Housz said.