Barclays to add about 30 commodity traders in 2008

LONDON (Reuters) - Barclays Capital is set to hire around 30 traders this year for its commodities business, Roger Jones, co-head of commodities said on Monday.

Jones, speaking to reporters after a Barclays Capital briefing, said energy traders will make up most of the new hires.

Barclays Capital, the investment bank arm of UK bank Barclays Plc (BARC.L), started expanding its commodity business a decade ago and now has around 250 people globally.

The new hires are consistent with expansion plans outlined by Benoit de Vitry, head of global markets-trading for Europe in October last year. ID:nL10548082

Late last year, Barclays hired six people for its environmental markets business, including Chris Leeds, formerly head of environmental markets at Merrill Lynch MER.N who joined as head of environmental markets sales.

Barclays also plans to introduce research in carbon markets this year.

Barclays' is still expanding in commodities, but some banks have made cuts in their commodity businesses in the wake of the credit market crisis.

Bank of America (BAC.N), for example, closed its commodities desk in London, UBS (UBSN.VX) closed some power and gas trading operations in Europe and Morgan Stanley (MS.N), one of the biggest investment bank players in oil trading, trimmed some staff.

(Reporting by Jane Merriman)