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Deutsche Bank exits commodities trading ... except for monetary metals
Deutsche Bank Quits Commodities Under Regulatory Pressure
By David Sheppard and Ron Bousso
Reuters
Thursday, December 5, 2013
Deutsche Bank pulled the plug on its global commodities trading business on Thursday, cutting 200 jobs as it becomes the first major bank to exit the once lucrative sector due to toughening regulations and diminished profits.
Germany's largest bank, which was one of the top-five financial players in commodities, will cease energy, agriculture, base metals, coal, and iron ore trading, it said in a statement, retaining only precious metals and a limited number of financial derivatives traders.
The cuts are expected to largely fall on its main commodity desks in London and New York. ...
... For the full story:
http://www.reuters.com/article/2013/12/05/deutsche-commodities-idUSL5N0J...
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