Newedge committed to metals: executives

Jun 20, 2012 | 05:25 AM | Alex Harrison

Tags  Newedge, John Fay, Michael Turek, Mike Frawley, Alex Harrison

LONDON — Brushing aside the departure of senior executives in recent weeks, Newedge Group SA’s global head of fixed income, currency and commodities said the brokerage is committed to its metal business, its metal clients and the London Metal Exchange.

"We have the No. 1 metals business in the world, with approximately an 18-percent share of the LME market, and that is based on our platforms and our people," John Fay told AMM sister publication Metal Bulletin.

Fay and Michael Turek, senior director on Newedge’s New York metals desk, were speaking in the wake of the departures of global head of metals Mike Frawley—who is set to join Jefferies Bache Securities LLC—and Joel Spier and John Peiser in New York, as well as the resignations of Steve Pettitt and Mark Taylor in London. ....

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