In a first, Goldman not among top 3 commodity banks as trading losses weigh

Goldman Sachs Group Inc, for decades Wall Street’s dominant commodities trader, has lost its place among the top three banks in the sector for the first time, according to research group Coalition Development Ltd.

Trading losses in natural gas and power dragged Goldman to its worst annual performance in commodities in its history as a public company last year, leading to a string of high profile exits from the bank’s raw-materials unit.

Last year, JPMorgan Chase & Co., Morgan Stanley and Citigroup Inc. leapfrogged Goldman to the top spots for commodities revenues at the dozen big banks Coalition tracks, the researcher said