Goldman Sachs Global Commodities Head to Retire

Jeff Currie, global head of commodities research at Goldman Sachs, will retire from the high-profile position after 27 years, according to a memo seen by Reuters.

The 56-year-old commodities forecaster gained prominence with his commodities super-cycle call in 2004 and reprised that playbook in 2021.

Currie coined the phrase “Revenge of the Old Economy” in 2004 to describe how commodity prices would spike after decades of underinvestment, according to the memo.

The firm “has greatly benefited from Jeff’s thought leadership on a broad range of topics and his ability to identify fundamental commodity market themes well before others,” Jan Hatzius, Goldman’s chief economist and head of global investment research, wrote in the memo.

Currie was mostly a bull, but he wasn’t hesitant to go against the grain and forecast huge swings. His most recent calls predicted massive raw material demand for years to come.

He joined Goldman in 1996 and was promoted to managing director in 2002, then partner in 2008.