Goldman Sachs Halts Zinc Market Coverage as Top Analyst Joins Competitor
Goldman Sachs has made the surprising decision to suspend coverage of zinc markets, citing “restricted capacity” after the departure of their sector lead earlier this year. Nicholas Snowdon, the metals strategist at Goldman, has left to join Mercuria, an energy trading company looking to expand its influence in the sector.
This move comes on the heels of Jeff Currie, Goldman’s former head of commodities research, leaving to lead energy transition analysis at private equity firm Carlyle in February. Additionally, the co-head of commodities trading at Goldman, Xiao Qin, is set to retire by year-end, according to an internal memo obtained by Reuters.
The shakeup at Goldman Sachs could have significant implications for the commodities market and investors. As top analysts and strategists leave the firm, it may impact the bank’s ability to provide valuable insights and guidance to clients. Investors in the zinc market, in particular, may need to look elsewhere for analysis and recommendations.
In conclusion, the departure of key figures at Goldman Sachs highlights the fast-paced and competitive nature of the financial industry. Investors should stay vigilant and be prepared to adapt to changes in order to protect and grow their portfolios.