Banks lose commods talents as hedge funds step up (excerpt)
NEW YORK, April 16 (Reuters) - Star commodity traders, once synonymous with high-profile banks, are leaving for little-known investment firms that let them work and earn in ways iconic Wall Street firms no longer can.
The financial crisis and its amplifying threat on risk taking, bonus and pay at major financial institutions is causing big names like Goldman Sachs and Morgan Stanley to lose some of their best commodity talents to relatively obscure hedge funds -- even start-ups -- that promise more.
"The trend that started last year has continued and, you might even say, accelerated," said George Stein, managing director at New York's Commodity Talent LLC, a headhunter for commodity specialists.
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