French bank Natixis has announced it will close down its commodity trade finance (CTF) office in Geneva and activity in Dubai. Its energy and natural resources CTF business in Europe, Middle East and Africa (Emea) will instead operate from its headquarters in Paris.
Natixis says it will refocus its energy and natural resources Emea activities on mid and large-sized CTF clients.
The bank tells GTR the move accords with the “new strategic plan and ambition to develop its M&A and investment banking activities in energy and natural resources”.
The impact on its activities will be “marginal”, the bank says in a press statement.
The adjustments will allow Natixis to “strengthen its intervention and better serve its clients”, it adds.
The bank’s Geneva office opened at the end of 2016 with a focus on CTF.