Glencore Copper Trader Le Page Resigns After 18 Years at Firm
(Bloomberg) — Senior Glencore Plc copper trader Sebastien le Page will leave the world’s largest publicly traded commodities supplier after resigning this week to pursue other business interests.
His career at Glencore has spanned 18 years; he started in the traffic division before joining the copper unit in 2002, according to his LinkedIn profile. Le Page is a co-owner of two recently opened bars in Zurich — Italian Monkey and Alice Choo — according to the profile.
“I resigned on Tuesday, but we haven’t set my last day yet,” Le Page said by phone Thursday. While he plans to continue to be active in his businesses, he said it’s too early to say what he will do next.
Copper, which has fallen 15 percent in January, is heading for the biggest monthly drop since September 2011 after the World Bank cut its forecast for the global economy amid weakness in Asia and Europe. The price slid 5.3 percent on Jan. 14, the biggest one-day decline in more than three years. It headed for the lowest close since July 2009 today on the London Metal Exchange.
A spokesman for Baar, Switzerland-based Glencore declined to comment. The company sold $10 billion of shares in a 2011 initial public offering.
To contact the reporters on this story: Agnieszka de Sousa in London at atroszkiewic@bloomberg.net; Jesse Riseborough in London at jriseborough@bloomberg.net To contact the editors responsible for this story: Will Kennedy at wkennedy3@bloomberg.net Ana Monteiro, Alastair Reed
