“We remain committed to commodities,” Paul
Hawkins, global head of commodities at Credit Suisse, told
“Many of the banks are now moving toward a model similar to the
one that Credit Suisse has followed for a long time, with more
emphasis on clients and with less dependence on proprietary and
A host of big global banks have been paring back or closing down
their commodity trading operations, particularly those focused
on physical raw materials, amid thinning margins, higher capital
requirements and intense regulatory scrutiny.
Morgan Stanley and JPMorgan Chase & Co have sold off large parts
of their physical trading businesses, while Barclays PLC and
Deutsche Bank AG are quitting the commodity markets altogether.
(Reporting by David Sheppard; editing by Andrew Hay)
[© 2014 Thomson Reuters. All rights
Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.