Peter Stoner, co-head of metals trading at Macquarie since September 2013, is no longer working at the bank, Metal Bulletin understands.

Stoner, who was based in London and shared the head trading role with Ryan Mangan, left the bank late last month, according to a source familiar with the matter.

The circumstances of his departure were not known at the time of publication and Stoner could not be reached for comment. Macquarie declined to comment.

Macuarie has made several moves to build its base metals business in recent years, firstly by hiring Stoner and buying a stake in UK-based warehousing business Scale Distribution in 2013, and, more recently, by hiring former JP Morgan traders Will Gayner and Ivan Petev, who work for the bank in London and Singapore, respectively.

The hires came after the bank, which has headquarters in Sydney and is a category II member of the LME, was knocked out of the bidding for JP Morgan’s physical commodities business by Mercuria, the Geneva-based trading house.

The sale did not include JP Morgan’s base metals trading business.

Mark Burton
Twitter: @mburtonmb