Best Banks For Commodity Trading?
Can be physical or paper, just not including the Glencore’s and Trafigura’s of the world. Any insight is appreciated.
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Macquarie, j Aron , Morgan Stanley
Macquarie, J Aron, MS top tier for sure. Macquarie IMO is by far #1
Wells is on a lower tier but i know they are large in US phs gas
BoA, Citi are a revolving door on management and junior levels and can't seem to find what business model works
JPM still not sure, they get in and it doesn't go well and sell/wind down every 3-5 years
What about other banks? Like U.S. bank? I see they have some ex Wells guys there. Just curious to see the overall ranking of commodity trading desks.
Done physical in bank:
Macquarie and GS used to be some of the largest marketer, even bigger than a lot of majors.
GS has pulled out a lot of its focus so if you’re talking about “physical” “investment bank” Macquarie is #1 rn imo. Morgan Stanley is solid and basically what you are seeing in Houston: Citi etc.
in general macq is the best place to work. Strong in Gas,SE power; rest of commods in NA mostly flow.
GS - super strong in gas, weak in power but thats try to change, hired partner from MS
MS - strong in Power, weak in Gas
Citi - good power roots but I think they got raided.
not really sure who is good in crude these days but I would assume GS
Are most of them located in Houston or NYC too?
Head of GS gas and power is from MS, joined 4 years ago as a partner.GS also poached Citi head of power trading to open a Houston power trading desk 2 years ago. Most of the group is in NYC but small team in Houston now.
poached isnt the right term..
MS is located either in purchase or manhattan
all others are houston
GS is in calgary
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