* Latest senior departure from Deutsche's commodity arm
* Banks facing tougher regulations, lower revenues
By David Sheppard
Jan 29 (Reuters) - Deutsche Bank's global head of oil andagriculture trading, John Redpath, has left the firm, a sourcefamiliar with the matter said on Tuesday.
Redpath, who joined the German bank's New York office in2007 from Citigroup, is the latest high profile departure fromDeutsche's commodity arm, after global commodities head DavidSilbert left the firm in December.
Reuters also reported earlier this month that Raymond Key,Deutsche Bank's global head of metals trading, is due to leavethe bank.
A source familiar with developments at the bank said itremains committed to its commodities trading business despitethe recent departure of several senior members of staff.
Deutsche Bank has also made steep cuts to its U.S. andEuropean power and gas trading desks as it undergoes a majorrestructuring.
The bank announced in December it was cutting 1,500positions in corporate banking to save billions of euros amid aprofit slump due to the euro zone crisis.
Industry publication SparkSpread first reported that Redpathhad left the firm earlier on Tuesday, saying he resigned.
A spokeswoman at Deutsche Bank declined tocomment.
Commodities trading has been hard hit at many investmentbanks by tighter regulations, including those restrictingtrading for the bank's own book.
Lower volatility in many commodity markets has also cut thenumber of profitable trading opportunities and reduced hedgingactivity by some of the banks' biggest clients.
Morgan Stanley, one of Deutsche Bank's biggest rivals incommodity trading, said its commodity results in the fourthquarter of 2012 were the worst since 1995.
Deutsche, together with Barclays and J.P. Morgan, broke into the commodities arena in the last decadewith acquisitions or aggressive growth to challenge establishedveterans Goldman Sachs and Morgan Stanley.
Goldman, long considered one of the most powerful oil andmetals trader on Wall Street, reported "significantly lower"revenues in its commodity business in the fourth quarter,without providing further details.
Barclays (BARC)
