Barclays Capital's Commodities Investor business was set up in December 2003 and in just two years has become the largest issuer and dealer of commodity-linked structured products, as reported by mtn-i.com - the data collection service that monitors the structured note market.

The firm's aggregate commodity note issuance volumes have grown from $600million in 2004 to more than $1,600 million in 2005 year-to-date.

Two teams were created in early 2004: Commodities Investor Solutions led by Torsten