By Staff | May 28, 2010 | Last updated on May 28, 2010
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Barclays Capital has announced the appointments of two senior executives in Canada, including a Mulroney-era cabinet minister. The Honorable Michael Wilson joins Barclays Capital, Canada as chairman, while Bruce Rothney has been named head of Barclays Capital, Canada.

“Their leadership, management, client coverage and transaction experience will be of tremendous value to our clients and to our growing Canadian business,” said Jerry del Missier, president, Barclays Capital. “We look forward to continued success and building on our momentum across North America with Michael and Bruce’s appointments.”

Aside from his political career, Wilson has served as chairman of UBS Canada overseeing all UBS operations in Canada, which included the investment bank, pension fund management and wealth management businesses.

Rothney will be responsible for broadening the Canadian franchise and the management of various business lines in the region. He has over 20 years of investment banking experience, most recently serving as deputy chairman of RBC Capital Markets.

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The value of most commodities soared in April, but volatile financial markets and reduced risk appetites have led to a retreat so far in May, according to the latest reading of the Scotiabank Commodity Price Index.

The index, which tracks the value of 32 major export commodities, rose 4.2% month-over-month in April, or 31.4% year-over-year.

“While commodity prices surged in early April, this strength may have represented the high-water mark for 2010, though not for the business cycle, with investors fleeing risk in May,” said Patricia Mohr, vice-president, economics and commodity market specialist at Scotiabank.

“The tough austerity measures recently announced in Greece, Portugal, Spain and Ireland as well as in the United Kingdom and Italy – in addition to prior retrenchment – will slow global growth.

But fears of a slowdown in China are likely overblown, Mohr says, and that country accounts for about 40% of global demand for four key base metals.

Oil prices have been adrift since 2008, varying with the latest economic reports, but Mohr expects consumption to rise by 0.8% year-over-year in 2010.

(05/28/10) staff


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