Goldman Sachs Moves Commodity Sales Team Into Investment Bank

Goldman Sachs Group Inc., which last year posted the worst commodities-trading revenue in 19 years as a public company, is moving commodities sales chief Colleen Foster and part of her team from the securities division into the investment-banking unit.

Foster, who joined Goldman Sachs in 1999 and rose to become partner in 2006, will fold her team into the financing group of the investment-banking division, according to a memo sent to staff Monday. The move aims to strengthen the Wall Street firm’s ability to sell commodities financing and hedging services to corporate clients. The group has been dubbed the commodities solutions team.