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Barclays has named Mike Bagguley, head of the bank's foreign-exchange business, to also lead its commodities business after the departure of Roger Jones, a spokesman said.
Jones will be leaving the British bank to join Swiss commodities trading firm Mercuria Energy Group Ltd., the spokesman said.
Bagguley will remain in London and will continue to run Barclays' global foreign-exchange business as he takes on the new role of commodities chief, said the spokesman, Seth Martin. The overall business structure of both the commodities and foreign-exchange units will remain unchanged, he said.
Bagguley has run the bank's foreign-exchange business since 2010 and has been with Barclays since 2001, he said. Jones' departure was reported earlier Friday by The Financial Times.
-By Dan Strumpf, Dow Jones Newswires; 212-416-2818; [email protected]