VTB Capital, the investment banking arm of Russia's second-biggest bank VTB, said it plans to hire five metals traders for its Hong Kong office within the next two months as it boosts its commodity business. The newcomers will include specialists in precious and base metals, iron ore and coal, and will increase VTB's commodities team to around 40 people, Atanas Djumaliev, head of global commodities at the firm, said.

Charles Smith is joining the firm's office in Hong Kong from Avra Commodities and will be in charge of base metals, Djumaliev said in an interview with Reuters. He did not disclose the names of the four others. VTB is one of the biggest players in the Russian gold market alongside Sberbank, Russia's biggest lender.

Copyright Reuters, 2017