ANZ poaches Rabobank’s food and agri risk team

ANZ Investment Bank, the investment banking arm of Australia and New Zealand Banking Group, is to expand its role in soft commodities by hiring four ex-Rabobank staff in London. The move will establish ANZ's presence in agricultural futures.

Nigel Labram joins ANZ as global head of soft commodities from the Netherlands’ Rabobank, where he was managing director of food and agricultural risk management - a position he developed from scratch in 1998. Prior to this he was a senior director with ING Barings between 1995 and 1998.

In his new position he will report to Gilles Planté, director of FX and commodity derivatives at ANZ.

Labram will bring in three Rabobank colleagues – Henry Morriss has been made senior trader for commodities at ANZ, after holding the same position at Rabobank. Previously he worked as a soft commodities trader for over 15 years at Tradigrain in Switzerland and ED&F Man. Helene Winch will join as a senior structurer, while Louise Derbes, an Insead graduate, will join as a structurer. Winch has previously worked at Toronto Dominion and Société Générale as well as Rabobank.

A Rabobank spokesperson refused to comment on whether the four had been replaced, but added that the bank's food and agricultural risk management team is undergoing restructuring.