Stamford, Connecticut-headquartered Gerald operates globally from several large offices. Following the restructure, some staff in Singapore will move to Shanghai or London, while front office staff in Morges, Switzerland, will move to London. Both offices are downsizing but will remain open.

“The group is growing and we are reorganising our footprint; in Asia we are concentrating our forces in Shanghai and in Switzerland the same. We have offices in Morges, Switzerland, and today London is supposed to become the main trading centre of the group,” Baudois said.

Gerald’s Asian operations are focused on trading refined copper and copper concentrates. Moving the team to Shanghai means they will be situated in the world’s largest consumer of the metal: China.

No Asia-based staff have left the company as a result of the restructure, while several traders have already relocated from Morges to London, Baudois said.

Founded in 1962 as a base metals trader, Gerald bought the metals trading arm of Reuben Brothers Resources Group in 2014.

[This article was updated on Tuesday July 18 at 14:51 London time to include additional information that both Singapore and Morges offices are downsizing but will remain open.]