Goldman Sachs and Morgan Stanley have both taken bold realignment measures in an effort to prioritise growing markets. Goldman Sachs, historically Wall Street's premier commodities trader, will significantly reduce its number of commodities traders due to concerns that the margins on trading metals are unlikely to recover to previous levels. Morgan Stanley, meanwhile, has acquired the employee stock plan administrator Dropbox for $900m, 43% over its market value, to enable it to enter the lucrative and rapidly growing sector.
Goldman Sachs and Morgan Stanley have both taken bold realignment measures in an effort to prioritise growing markets. Goldman Sachs, historically Wall Street's premier commodities trader, will significantly reduce its number of commodities traders due to concerns that the margins on trading metals are unlikely to recover to previous levels. Morgan Stanley, meanwhile, has acquired the employee stock plan administrator Solium for $900m, 43% over its market value, to enable it to enter the lucrative and rapidly growing sector.