22nd Apr 2014 06:45
LONDON (Alliance News) - Barclays is set to become the next big bank to wind down its commodities trading activities, according to a weekend report from the Financial Times.
The FT reports that, in a move likely to be announced Tuesday, Barclays is set to move away from "exposure areas that do not generate returns above their cost of capital".
The newspaper said the move is driven by tighter regulation, fresh capital constrains, and lower profitability. Barclays is one of the top names in commodities trading, but such a move would echo similar decisions taken by the likes of US banks JPMorgan Chase and Morgan Stanley.
http://www.ft.com/cms/s/0/5761ec06-c707-11e3-aa73-00144feabdc0.html#axzz2zaseWVs7
By Jon Darby; [email protected]; @jondarby100
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