Shoring up their mining and metals segment, Citigroup (NYSE:C) has hired Heath Jansen to manage the European metals and mining research unit of the bank, along with two others for their London office, who will also focus on the overall metals market and companies within it.
Hired for London were Tom O’Hara from Metal Bulletin and Anindya Mohinta from Marble Bar Asset Management LLP, both of which will cover steel companies and the metals industry in general.
While the sovereign debt crisis in Europe and slowdown in manufacturing in China, along with China battling inflation, especially in their property market, the expectations for metals seem to be falling, although there can be no doubt over time they’ll increase in demand and prices along with them.
A number of banks and investment houses have strengthened their research and analyst department in order to more thoroughly cover the metals sector.
To that end, Jansen will cover some of the companies himself, but also coordinate the company analysts and researches working in these markets.
Jansen had left the company for a short time, working there from 2005 to 2009, and was one of the founding partners of Verulam Resources Fund; a hedge fund which invested in commodities.