Goldman Sachs Group Inc (NYSE:GS) is exiting the controversial metals warehousing operation amidst regulatory concerns and a political battle with large US beverage manufacturers. Goldman exiting metals warehousing business After four years in the business, the Wall Street bank is contacting potential buyers for its Detroit-based Metro International Trade Services, Reuters is reporting. While the bank is looking to exit the metals warehousing business it will remain in the metals trading business, retaining the J Aron trading division that is one of Wall Street’s largest commodity trading firms. Beverage manufacturers had charged that the metals warehouses were artificially driving up the…
Goldman Talking To Bidders About Controversial Metals Warehouse
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.