July 13, 2012
Rabobank has announced the appointment of Andrew Tasker as global financial markets representative for Western Australia. Based in Australia’s key wheat-producing state, Andrew will be responsible for wheat and canola price risk management as well as, FX and interest rates for Rabobank’s WA clients.
Announcing the appointment, Rabobank head of rural treasury sales, Bruce King said it was a new and innovative move for the bank to have someone from Treasury on the ground and able to work directly with farmers.
“Western Australian farmers are the leaders in taking up commodity swap products, so it is extremely valuable to have someone with Andrew’s risk management expertise on the ground,” Mr King said.
“There is certainly the demand out there to have someone based locally in Western Australia and Andrew will be well supported by our Treasury division in head office”.
State manager for Western Australia, Crawford Taylor said Andrew will spend a lot of his time engaging with clients, whether visiting farmers on their property, speaking at industry events or being on hand at field days.
“Andrew knows the grains market intricately and has a deep understanding of the drivers of this market. Clients will now be able to sit across the kitchen table from someone who can lend assistance when developing their risk management strategies,” Mr Crawford said.
“Given that the grains market is no longer just driven by fundamentals, it is important for our clients to have access to someone with their finger on the pulse.”
With over 12 years experience in risk management and trading, Mr Tasker is well versed on the complexity of the grains market and the products available to help manage this risk.
Living in rural New South Wales before making the move to Western Australia 12 years ago, Mr Tasker has worked in wholesale markets for a major financial institution, and prior to this as a partner of Profarmer Advisory Services.
“Having worked on the land, I have an appreciation of the myriad of agronomic decisions facing farmers, which along with seasonal variables makes farming a complex business. Add to this financial and commodity markets and you have another layer of complexity,” Mr Tasker said.
“With each farmer having a unique business and a different risk appetite there is no ‘one’ strategy that can be applied across the board. Rather, it is dealing individually with farmers to understand their business and their requirements to assist them to develop a tailored strategy that suits their farming operation.
“It’s not about picking the highs and lows of the market but having the appropriate products in place that help smooth out the bumps along the way.
“You only have to look at what wheat has done over the past few months to see the number of external factors driving prices and how quickly the market changes. It is my job to help clients make sense of this market.”
Rabobank Australia & New Zealand is a part of the international Rabobank Group, the world’s leading specialist in food and agribusiness banking. Rabobank has more than 110 years’ experience providing customised banking and finance solutions to businesses involved in all aspects of food and agribusiness. Rabobank is structured as a cooperative and operates in 48 countries, servicing the needs of more than nine million clients worldwide through a network of more than 1600 offices and branches. Rabobank Australia & New Zealand is one of Australasia’s leading rural lenders and a significant provider of business and corporate banking and financial services to the region’s food and agribusiness sector. The bank has 93 branches throughout Australia and New Zealand.
Media contacts:
Denise Shaw
Media Relations
Rabobank Australia & New Zealand
Phone: +61 2 8115 2744 or +61 439 603 525
Email: denise.shaw@rabobank.com
Skye Ward
Media Relations
Rabobank Australia & New Zealand
Phone: 0419 502 859
Email: skye.ward@rabobank.com