NEW YORK Andrew Caplan will head the combined aluminum and alumina department of Glencore Xstrata Plc after current aluminum head Gary Fegel leaves the company in the summer, market sources close to the company said.
Caplan, who joined Swiss miner Glencore International Plc from Trafigura Beheer BV in 2007, already runs the global trading book for alumina and has stepped up his activities on the aluminum side over the past several months as Fegel winds down his involvement.
The exact departure date of Fegel, who joined Glencore in 2001, hasnt been announced, although it is expected to be in June, sources within the company said.
The departure of Fegel, based in Zug, Switzerland, follows that of Connecticut-based cobalt trader Robert Franco, who recently left the company to pursue his own interests.
Glencore recently initiated a review of its aluminum department in light of Fegels planned departure.
The announcement that Caplan will head the combined department is expected to be formally made once the review is completed, sources within the company added.
The company declined to comment on who will run the team once Fegel leaves, but confirmed that a restructuring review is under way.
Fegel was recently confirmed as head of the aluminum department in an announcement on the post-merger structure of the combined company.