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Article: Germany: Deutsche Bank to Add Coal, Gas, Shipping in Commodity Expansion.
- Article from:
- TendersInfo
- Article date:
- April 1, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: sander03
Deutsche Bank AG, after quadrupling revenue from commodities in two years, plans to add coal, European natural-gas and shipping to its business, anticipating a rebound in demand and prices.
Germany s biggest bank expanded its commodities team by about 10 percent this year, David Silbert, global head of the unit, said in a March 25 interview in London. He declined to provide specific figures.
Deutsche Bank s growth contrasts with that of Zurich-based UBS AG, which agreed to sell its industrial metals, oil and U.S. power and gas assets to Barclays Plc in January. The Reuters/ Jefferies CRB Index of 19 commodities dropped 6.3 ...
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