Natixis will halt its commodity trade finance activities in Geneva and Dubai as part of a new strategic plan, the French investment bank told Reuters.
Natixis is looking to refocus its energy and natural resources CTF activities in Europe, the Middle East and Africa in Paris on medium-sized and large CTF clients, according to the report. The changes are expected to have marginal impact on the bank's activities and will enable it to strengthen its intervention and service to customers, Natixis noted.
The Groupe BPCE unit, which employs 56 people in the United Arab Emirates and 50 in Switzerland, did not specify how many CTF jobs were at risk in the two locations, Reuters said.
