“Companies have to think about the security of supply”

Richard Gnod – Goldman Sachs Chef Europe

Goldman’s foreign chief warned of consequences of the energy crisis.

(Photo: Lomeric for Handelsblatt)

frankfurt One of the world’s biggest investment banks is sounding the alarm because of an ongoing rally in raw materials: the sharp rise in energy prices is especially important for a country with strong industrial output like Germany, said Richard, head of international trade at Goldman. Says Gnod Sachs, in an interview with Handelsblatt.

Energy-intensive companies will have to worry about the security of supply. “I think the markets have a definite edge over the economy when it comes to assessing these risks. In any case, the interest of our customers in protecting themselves against suddenly rising energy prices has increased significantly. “

Regarding core business, Gnodde is optimistic: “Business will reach a new record this year with mergers and acquisitions.” In Europe, Goldman wants to enter transaction banking next year. “Given the size and international position of many German companies, Germany is one of the most important markets for us in this strategic initiative.”

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