Goldman Sachs earned back its place as the largest bank by commodities revenue after JPMorgan sold its physical raw-materials business.
Bloomberg News reports that JPMorgan, which made the most money from commodities among the top 10 investment banks in 2013, ranked second last year and Morgan Stanley was third, according to a report published Friday from Coalition, a business analytics firm.
JPMorgan sold part of its physical commodities business to trading house Mercuria Energy last year.
JPMorgan, Barclays, Deutsche Bank and Morgan Stanley have withdrawn from or scaled back physical commodity operations amid regulatory scrutiny and pressure from lawmakers.
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