* To be headed by ex-Goldman Sachs executive
* Seeks to meet appetite for alternative investment products
LONDON, March 14 (Reuters) - Macquarie Group has launched a unit to sell specialised commodity-linked products to institutions and private clients, which will be headed by an ex-Goldman Sachs executive, the investment bank said on Wednesday.
Macquarie, Australia’s top investment bank, hopes to leverage its existing commodities platform to meet the growing appetite for alternative investment products, a statement said.
The unit in London will be headed by Arun Assumall, who will join Macquarie in June after 11 years with Goldman Sachs, where he was global head of its commodity investor sales team.
The unit, which will come under Macquarie’s Fixed Income, Currencies and Commodity division, will offer bespoke beta and absolute return commodity index products.
Beta refers to return generated from a portfolio that can be attributed to overall market returns rather than from an individual stock or commodity.
At the end of September 2011, Macquarie had assets under management of 236 billion euros.