Barclays, CDB partner on risk management services

Barclays Capital will partner China Development Bank (CDB) to provide Chinese companies with risk management services in the energy, base metals and emissions sectors, the Financial Times reported. Barclays will train CDB commodities traders and bankers and will be its preferred provider of commodity market risk hedging. Barclays said the partnership would accelerate the bank's commodities business growth. The agreement runs to 2012 and could be extended for an additional five years. It is part of an alliance between the two banks that began in July, when CDB became one of Barclay's largest shareholders.