CORRECTED-Trafigura names Letchford as new head of Galena Asset Management

Thu Mar 27, 2014 12:15pm EDT

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(Corrects Letchford's previous title to CIO from CFO)

LONDON, March 27 (Reuters) - Commodities trader Trafigura has appointed Duncan Letchford as the new chief executive of Galena Asset Management, the firm said on Thursday, after the previous head of its fund arm became chief executive of the parent this week.

Letchford was the chief investment officer of Galena, which manages over $2 billion invested in financial commodity contracts from offices in London, Singapore and Geneva.

Australian Jeremy Weir, 50, became CEO of Trafigura this week after co-founder Claude Dauphin stepped down from handling day-to-day operations due to an unspecified illness. Dauphin remains with the firm he helped found in 1993 as executive chairman. (Reporting by David Sheppard; Editing by Greg Mahlich)

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