Michael Frawley, the global head of metals at Newedge USA LLC in New York, is leaving to join Jefferies Group Inc., according to a person with knowledge of the move who asked not to be identified because the information hasn’t been made public.
Frawley worked for more than 20 years at Newedge, formerly known as Calyon Financial and Carr Futures. He served on the board of the London Metal Exchange until 2009. Frawley’s duties at Newedge will be taken over by John Fay, the company’s global head of fixed income, currency and commodities, Nicole Wesch, a Newedge spokeswoman in London, said by telephone yesterday.
As a Category 1 member of the LME, Newedge is one of a dozen companies allowed to trade on the LME floor along with the likes of Barclays Plc and JPMorgan Chase & Co.
Reuters reported the move to Jefferies yesterday. Frawley didn’t return a telephone call seeking comment. Richard Khaleel, a spokesman for New York-based Jefferies, declined to comment.