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
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
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
The announcement that Caplan
will head the combined department is expected to be formally
made once the review is completed, sources within the company
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.