FACTBOX: Investment banks in energy/commodity markets

(Reuters) - Swiss bank UBS (UBSN.VX) has closed the bulk of its global commodities business as part of cutbacks to try to recover from the credit crisis.

UBS, which began a big expansion in commodities in 2005, is the latest investment bank to pull back and may not be the last.

The top three players in energy and commodities are Goldman Sachs (GS.N), Morgan Stanley (MS.N) and Barclays Capital (BARC.L), the investment bank arm of UK bank Barclays Plc, according to senior executives in the industry.

Goldman Sachs and Morgan Stanley, once know as the "Wall Street refiners," have been active for two decades, Barclays Capital has built its business over the past 10 years.

Banks are active in derivatives, while some are also present in the physical oil markets, partly to gain access to information, but also to satisfy client needs.

Morgan Stanley, Barclays Capital and also Merrill Lynch MER.N have a physical market presence.

French banks Societe Generale (SOGN.PA) and BNP Paribas (BNPP.PA) both have longstanding activities in commodities in certain areas.

The following lists recent moves by some banks in the commodities sphere:

BARCLAYS CAPITAL - The investment bank arm of the UK banking group said in June it planned around a 30 percent increase in staff in its commodities business in the next two years.

Then it had around 250 staff in energy and other commodities, spanning oil and refined products, metals, power and gas, coal, agriculturals, emissions and investment products.

It has just agreed to buy Lehman Brothers' North American investment banking business for about $1.75 billion.

CITI (C.N) - The U.S. bank began building up commodities in Europe in the last two years.

Its emphasis has been on newer markets such as freight, power and gas, carbon emissions and coal, but the firm also has activities in oil, precious and base metals and agricultural markets.

DEUTSCHE BANK (DBKGn.DE) began expanding its commodities business in late 2006 and has been adding staff and entering more markets, including carbon emissions, gas storage and transportation.

GOLDMAN SACHS - A spokesman for the firm has said that the firm's new status as a commercial bank regulated by the U.S. Federal Reserve would not affect its commitment to its commodity and energy business.

J.P. MORGAN CHASE (JPM.N) has expanded in energy and commodities trading. The U.S. bank added 50 people to its commodities and energy trading and investment team last year and had plans to hire a similar number this year.