For the First Time, Goldman's Not Among the Top Commodity Banks
- Goldman fell out of top 3 banks ranked by Coalition for 2017
- Big banks’ net revenues in commodities plunged 42% last year
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Goldman Sachs Group Inc., for decades Wall Street’s dominant commodities trader, has lost its place among the top three banks in the sector for the first time, according to research group Coalition Development Ltd.
Trading losses in natural gas and power dragged Goldman to its worst annual performance in commodities in its history as a public company last year, leading to a string of high profile exits from the bank’s raw-materials unit.