Goldman CEO says firm committed to commodities business
Sept 18 (Reuters) - Goldman Sachs Group Inc remains committed to its commodities business even as competitor JPMorgan Chase & Co backs away under pressure from regulators, Goldman's CEO said on CNBC television on Wednesday.
"That is a core, strategic business for us," Chief Executive Officer Lloyd Blankfein said in an interview on the cable network. Blankfein said Goldman's customers would be worse off if the firm left the commodities markets.
JPMorgan said in July that it would sell its physical commodities business after concluding that it was more trouble for the company than it was worth.
(Reporting by David Henry in New York; Editing by Gerald E. McCormick)