NEW YORK, June 5 Roger Jones, the former head of
commodities at UK bank Barclays, has left Mercuria two
years after joining the Swiss trading house, an industry
publication reported on Thursday.
Jones, one of the first senior commodity executives to jump
from an investment bank to a trading house, had been head of
non-oil operations at Mercuria. Further details of his
departure, reported by SparkSpread.com, were not immediately
available. The company did not immediately reply to an email
The departure comes at a transformational moment for
Mercuria, which is in the midst of closing a $3.5 billion deal
to buy the physical commodities trading business of JPMorgan
Chase & Co.
Last month Mercuria appointed Magid Shenouda, co-head of
commodities for Goldman Sachs until the end of last year,
to run its global trading operations, allowing the firm's two
co-founders, Marco Dunand and Daniel Jaeggi, to focus on running
the firm and integrating the acquisition.
Shenouda's move to Mercuria was the latest in a wave of
recent commodity departures from investment banks, whose trading
desks are under pressure from thinning margins, rising capital
requirements and growing regulatory and political scrutiny.
(Reporting by Jonathan Leff; Editing by Steve Orlofsky)