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Barclays completes phased withdrawal from metals with closure of commodities businesses
April 22, 2014 - 15:50 GMT
Barclays is shutting down the majority of its global commodities trading operations as it looks to divert capital towards more rewarding asset classes, the bank confirmed on Tuesday April 22.
The move is part of a strategic effort to reshape the bank
in response to broad and intense scrutiny of banks' activities
in sectors including interest rate, electricity and gold
markets. "Barclays is exiting the majority of its global
commodities business. The refocused business will provide a
simplified financial flow platform for clients, with an
emphasis on efficient electronic execution," the bank said.
"This decision is in line with Barclays’ stated
objective to actively evaluate and...
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Euromoney Institutional Investor PLC.
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