Glencore comes to headlines for its ‘blow for blow’ move! After losing its aluminium segment trader to Vitol, it reportedly replenishes its alumina trading segment with a new joinee from Guvnor. The latter entity’s alumina trader, Zach Mayer, is reportedly leaving his position to join Glencore Plc on May 1, 2025.
Image Credit: https://www.glencore.com/
Gunvor has verified Mayer’s resignation, stating that he was leaving for personal reasons. The company has further added that the alumina book is planned to be taken over by Ulas Alkan.
There has been no comment from either the prospective employer or employee on the matter.
Gunvor primary trade revolves around energy products such as oil. It has recently extended its trading division into metals with anticipation of proven profitability from the structural changes in the sector triggered by the energy transition.
Mayer’s move from Gunvor is unusual in that most of the moves in metals trading have been made by these new entrants from established players. In the recent past, such an incident took place when, after the iron division, Glencore Plc was on the brink of losing some of its top aluminium segment traders to new competitors like Vitol Group and Mercuria Energy Group Ltd. Energy traders Mercuria and Vitol are also exploring the metals’ trade sector more proactively. This was the latest hint that energy firms’ return to metals is fuelling a talent war in the industry.
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