- Goldman Sachs no longer one of top three commodities banks

From Reuters - March 22, 2018

LONDON (Reuters) - Goldman Sachs lost its place among the top three earners of commodities-related revenue in 2017, falling below rivals JPMorgan, Morgan Stanley and Citibank for the first time, data from analytics firm Coalition showed.

U.S.-based investment bank Goldman has been among the top three since Coalition started compiling the figures in 2010, having a longstanding reputation for generating revenue from commodities trading, derivatives and other activities.

However, last year Goldmans commodities business posted one of its worst results on record and it is now trying to boost performance, creating a new commodities finance team to drum up business from corporate clients.

Coalition said JPMorgan and Morgan Stanley had the largest revenue in the commodities sector last year, followed by Citi. Coalition ranks the twelve largest investment banks. It did not provide revenue figures.


Continue reading at Reuters »