Wool wars loom as NAB expands commodities

13 Dec 2004

National Australia Bank (NAB) has hired Jim Fenwicke as its senior trader to develop its wool derivatives business. Fenwicke, previously head of Macquarie Bank's wool business, told FO Week "We are looking to grow the business rapidly and aim to be the...

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“At the highest level of economic motivation for their actions and most generous interpretation of them, they are trying to influence prices in a way that benefits mankind and they should be considered heroes for it.”

John Lothian on speculators in the commodity markets.