Mining companies may need to update their contact lists following a hiring spree in the sector. Two UK-based mining analysts have moved over to the buy side as investment firms look to boost their commodities research, according to a report last week from Bloomberg.
Olivia Ker has left UBS to join BlackRock, reports Bloomberg, citing an emailed response to questions from the Swiss bank.
The other move involves former Sanford C. Bernstein analyst Paul Galloway, who started work at hedge fund Paulson on August 1, states the news firm, this time citing a person with knowledge of the matter.
Overall, at least eight UK-based analysts have switched roles in the past two months, notes Bloomberg.
This led Nomura International to halt coverage of stocks including BHP Billiton and Rio Tinto, while Bernstein ‘also halted industry coverage’, says Bloomberg, referencing two people familiar with the matter.
[Article by Tim Human, Inside Investor Relations]