Macquarie announces new Metals and Mining Trading Desk appointments

08 July 2004

Macquarie Bank today announced two key appointments to its Metals and Mining Trading Desk, reflecting Macquarie’s commitment to expanding its presence in the metals sector.

“Macquarie Bank continues to see a strong future in the metals market,” said Executive Director of Macquarie Bank’s Metals and Mining Division, David Finnimore. “With the backing of our internationally-respected resources analysts, led by Jim Lennon in London, we will continue to be an active member of the market in both the trading and finance sections.”

Mr Finnimore’s comments came as he announced the appointments of Ms Monica Leung and Ms Julie Ngui to the metals trading team in Sydney.

Ms Leung, who has fifteen years experience across all metal markets, was most recently with MKS Finance where she worked in the precious metal department. Prior to this she worked for four years with Brandeis in Singapore, with particular responsibility for marketing to base metals clients in Asia, focusing on China.   Ms Leung will be responsible for the continued marketing to the base metals market, focusing on the Asian client base.

Ms Ngui will be responsible for the continued marketing of the precious and base metal trading team. Ms Ngui, who has fouteen years experience in financial markets, was most recently a precious metals marketer based in Sydney with NM Rothschild & Sons (Australia) Ltd, where her client base included customers in Asia and Europe. 

Mr Finnimore said that while some of the more traditional gold banks had been closing down their trading desks and winding back their exposure to the metals markets over the past three years, Macquarie was boosting its team and remained upbeat about the sector and its outlook.

“Exposure to the resource sector is important to Macquarie,” Mr Finnimore said. “In Australia we have seen resources stocks climb sharply in recent times. The S&P/ASX 200 Materials Index, which includes resources stocks, rose 34 per cent in the last twelve months*. Some of the best-performing fund managers of the past year have had high resource allocations.”

The Metals and Mining Division provides conventional and structured financing and hedging solutions and 24 hour commodity price making services to producers and consumers of precious and base metals. The Division has a widespread customer base throughout Australia, Asia, the Americas, Europe and Africa, and seeks to provide a total service to its clients.

Macquarie is one of the principal providers of liquidity in the Asian timezone and, as an Associate Broking Clearing Member of the London metal Exchange, ranks among the top five participants on the LME market globally. The Division also offers highly regarded independent metals research services.

* Source: Reuters

David Finnimore
Executive Director
Treasury & Commodities Group
Tel: (612) 8232 8875

Matthew Russell
Public Relations
Macquarie Bank Limited
Tel: (612) 8232 4102
Mobile: (614) 1069 9532