News Snapshot:
EXCLUSIVE: Rabobank shuts commodity finance desks in London, Shanghai, Sydney Rabobank will close its commodity trade finance desks in London, Shanghai and Sydney after reviewing the embattled sector last summer. 12:26 PM By Archie Hunter The Dutch bank, which announced the closures to clients last week, according to several sources and a memo seen by Fastmarkets, told customers the Covid-19 pandemic, international trade tensions were key reasons for the move. “In addition, significant fraud and default cases in our line of business, have forced us to carefully review our organization,” the memo dated January 11 said. “We understand this decision...
