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Commodities Briefing - Categorized | Financial, Market Moves more

Banks cut raw-materials staff to fewest since ’09: Commodities

Posted on 06 December 2013

The biggest banks are employing the fewest commodity traders, salespeople and analysts in at least four years as tighter regulations and the second drop in prices since 2001 spur cutbacks.
Total headcount in commodity units at the 10 largest banks, from Goldman Sachs Group Inc. (GS) to Barclays Plc, stood at 2,290 at the end of September, about 4 percent less than at the end of 2012, according to data starting in 2009 from Coalition, the London-based analytics company. Pay for those workers may drop 13 percent on average this year, a fourth straight decline, said Options Group, a recruitment company………………………………………..Full Article: Source


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