NEW YORK, June 5 (Reuters) - Roger Jones, the former head ofcommodities at UK bank Barclays, has left Mercuria twoyears after joining the Swiss trading house, an industrypublication reported on Thursday.
Jones, one of the first senior commodity executives to jumpfrom an investment bank to a trading house, had been head ofnon-oil operations at Mercuria. Further details of hisdeparture, reported by SparkSpread.com, were not immediatelyavailable. The company did not immediately reply to an emailseeking comment.
The departure comes at a transformational moment forMercuria, which is in the midst of closing a $3.5 billion dealto buy the physical commodities trading business of JPMorganChase & Co.
Last month Mercuria appointed Magid Shenouda, co-head ofcommodities for Goldman Sachs until the end of last year,to run its global trading operations, allowing the firm's twoco-founders, Marco Dunand and Daniel Jaeggi, to focus on runningthe firm and integrating the acquisition.
Shenouda's move to Mercuria was the latest in a wave ofrecent commodity departures from investment banks, whose tradingdesks are under pressure from thinning margins, rising capitalrequirements and growing regulatory and political scrutiny. (Reporting by Jonathan Leff; Editing by Steve Orlofsky)
Barclays (BARC)
