Fortis has recruited Axel Krueger to join its London-based commodities team to form part of the structured commodity finance group.

He moves from Noble Europe, where he was the regional manager for Europe, Middle East and Africa. He has also worked for a number of other trading companies, such as Glencore UK, Marc Rich Investment and Stemcor.

Carl Shipman, head of structured commodity finance and interim head of commodities in London comments: “Given the continued strong growth in our SCF business in 2007, Axel’s decision to join Fortis comes at a very opportune time. Our Asian SCF pipeline remains very strong and we still see considerable upside potential in Central and Eastern European and African markets driven from our client base. His experience working with a number of our prime clients will be invaluable as we push afresh into these markets and expand our client coverage and product base.”