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Mr. Ghavami, a Belgian national, left UBS in 2007 as global head of commodities.
But Ed Morse, global head of commodities research at Citigroup, disagrees.
Bank of America has also named Patrick Coleman as global head of commodities.
"People reacted to the dollar, to Trichet and to silver," said Paul Horsnell, head of commodities research at Barclays Capital.
"It's not just coal versus gas," Ed Morse, the global head of commodities research at Citigroup, said.
In October, he asked Semerci's replacement, David Sobotka, a fifty-year-old former head of commodities trading, to review the mortgage portfolio and determine its worth.
Similar(21)
Mr. Resnick is head of commodity trading.
The global glut may worsen in the next few months, said Bart Melek, head of commodity strategy at TD Securities.
Bart Melek, head of commodity strategy at TD Securities, said Opec's mission to grab market share is working.
"Use whatever hackneyed phrase you want, like tectonic shift or game-changer," said Edward L. Morse, global head of commodity research at Citigroup.
"It would be nice if prices did come down quite substantially," said Francisco Blanch, head of commodity strategy at Bank of America Merrill Lynch, who added that the chances were slim.
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