Citi Commodities

Anyone have any info on Citi commodities? They do OCR at my school and a lot of people I know have accepted offers from their commodity S&T desk in Houston. What is their reputation? Is their commodity desk a dying business like at most other firms? Or are they one of the few strong players left like GS?

Thanks in advance.

 
monty09:
they have a strong team in NA, not sure about far east. Some good leadership

Could you explain the acronym NA?

I was wondering if you might have any insights in particular on the strengths of their precious metals and crude business.

Thanks..

 

Basically, all shops that participate in Commodities have stepped up their Physical presence in the market to increase margins. So, find a Bank that has Physical/Financial Sales & Trading operations, you'll find a strong Commodities group. Having a futures desk just doesn’t cut it anymore for the bigger firms. Not only do they want to trade oil, metals and agriculture, they want to own the refineries, vessels and processing plants, too!

 

Phibro still is pretty big in physical crude and products. Now based in CT. I don't know how big they are in metals these days (you certainly don't hear about them as much as some other companies), but they used to be HUGE back in the day. In fact, before he went out on his own, Marc Rich reported to Ludwig Jesselson as an employee of Philipp Brothers.

 

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