Banks are pulling commodities traders out of retirement and doubling their salary guarantees as they fight for business in one of the few booming areas in Wall Street and the City of London. The hiring spree comes after the S&P GSCI, the most popular commodity index, surged this year by almost 29 per cent â its largest jump in five years â thanks to a leap in raw materials prices such as oil, wheat or gold. Options Group, the New York-based executive search firm, is predicting that 350 new commodity hires could be made in the first half of 2008, up 17 per cent from the same period in 2007. The recruiting battle comes as banks are growing their commodities business from traditional areas, such as oil, gas and metals derivatives, into agriculture, emissions, shipping, forestry and physical trading. So far this year, a record 550 commodity traders have been hired, with banks taking about 365 new traders. Some banks are offering traders incentive payments of up to 17 per cent of their own profit and loss to entice them or retain them onboard. http://www.ft.com/cms/s/0/2071e726-b185-11dc-9777-0000779fd2ac.html Any exceptional commodity traders around here on ET ?