(Updates to add more comment from Barclays)
LONDON, April 20 (Reuters) - Barclays' global head of metalsand mining sales Martyn Whitehead will leave the bank as part ofits restructuring and exit from some parts of its commoditiesbusiness, a source familiar with the situation told Reuters onMonday.
Whitehead was Barclays' only representative listed withLondon Precious Metals Clearing Ltd. Barclays is one ofthe six banks that organise and co-ordinate bullion clearing andvaulting in London.
"Barclays will continue to fulfil its obligations to LondonPrecious Metals Clearing Ltd and will be making appropriateappointments in due course," a spokesman said. "Our preciousmetals business remains a core part of our commodities offeringfor our clients."
He declined to comment on Whitehead's departure.
Barclays said in April 2014 it was withdrawing from most ofits commodities business but would continue in precious metals.
Other high profile precious metals personnel have alreadyleft the bank over the past year, including Jonathan Spall,product manager for metals at the bank, and Marc Booker, head ofspot trading.
With regulatory scrutiny showing no signs of abating andcost pressures still elevated, the precious metals industry hasundergone a series of changes, starting with the move of thecentury-old gold and silver benchmarks to electronic platforms.
Barclays is involved in the gold price setting process asone of seven participants in the auction run by theIntercontinental Exchange. (Reporting By Clara Denina; Editing by Veronica Brown and SusanThomas)
Barclays (BARC)
