“In the cold winter, the price pressure will certainly not ease” – Goldman foreign chief on the energy crisis

Frankfurt One of the world’s largest investment banks is sounding the alarm because of the ongoing rally in raw materials: The sharp rise in energy prices is particularly critical for a country with strong industrial production like Germany, says Richard Gnodde, who heads the international business at Goldman Sachs, in an interview with the Handelsblatt.

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

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