MELBOURNE (Reuters) - National Australia Bank <NAB.AX> (NAB) has hired Lachlan Shaw as a director and commodity strategist at its Melbourne office, an NAB spokesman confirmed on Monday.
Shaw will join the bank from UBS in Melbourne, where he worked in commodities research, specialising in mining, between 2015 and March.
Before that, Shaw had spent seven years as a commodities research analyst at the Commonwealth Bank of Australia, according to his LinkedIn profile. Shaw will start on June 24, he said in an email.
Some large European banks have downsized their commodity investment research units after European regulators required providers to charge separately for research to any other services, such as banking or asset management as of early 2018.
This was to remove any potential conflicts of interest between asset managers and their customers on the buy side, in which consuming research by banks and brokers - the sell side - could be seen as an inducement to trade with them.
(Reporting by Melanie Burton; Editing by Rashmi Aich)
