| NEW YORK, July 9
NEW YORK, July 9 Goldman Sachs has hired
London-based oil marketer Roy Golender as vice president of
energy sales from Barclays Plc, a company spokesman
said on Wednesday.
At Barclays, Golender spent four years in commodity
derivatives sales, according to his LinkedIn profile. A Barclays
spokeswoman declined to comment.
Goldman Sachs has affirmed its commitment to commodities
trading even as other banks have left the sector or scaled back
their activities in the face of public and regulatory scrutiny.
Banks that are remaining in commodity derivatives have been
hiring as others retreat. Barclays was one of the top five banks
in the global commodities business before it began reducing its
activities earlier this year.
By contrast, Goldman Sachs President Gary Cohn made the
rounds in Washington in May, meeting with U.S. lawmakers and
regulators from the Federal Reserve to press the case for the
bank's commodities business.
In January, the Federal Reserve issued a white paper
detailing its concerns with banks' involvement in storing,
transporting and trading environmentally sensitive commodities
such as crude oil.
Days later, in an earnings call, Goldman Chief Financial
Officer Harvey Schwartz described the business as "too
important" to its clients to give up.
Golender's hiring was first reported by SparkSpread, a
financial industry newsletter. SparkSpread also noted that
Goldman has made two other commodity-related hires in the last
(Reporting by Anna Louie Sussman; Editing by Jessica
Resnick-Ault and Lisa Von Ahn)