Deutsche Bank makes commodities cuts
Goldman names new commodities heads; BAML exits European power and gas; GDF Suez promotes Moorooven; Newedge names commodity heads; JP Morgan hires EDF power trader
Deutsche Bank is busy winding down its commodities business, after announcing on December 5 last year that it intends to abandon most of its activities in the area.
The bank said it would pull out of energy, agriculture, base metals and dry bulk commodities, while retaining a presence in financial derivatives and precious metals. Not only did the announcement surprise many market observers, but it is also said to have come as a surprise to the senior management of the commodities division, who
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