Goldman Sachs Metals-Trading Unit Chief McGarraugh to Leave Firm

  • Don Casturo promoted to succeed him, company memo shows
  • Anthony Kim is named global head of precious-metals trading

Goldman Sachs Group Inc.’s global head of metals trading, Charles McGarraugh, will depart after 16 years with the firm and will be succeeded by Don Casturo.

McGarraugh, a partner and managing director, has led metals trading since 2014, according to an internal memo distributed Thursday and confirmed by Michael DuVally, a Goldman Sachs spokesman.

“Charlie led the creation of our European mortgage franchise, helping establish the firm as a significant market participant,” securities division leaders Isabelle Ealet, Pablo Salame and Ashok Varadhan said in the memo. “He has since made important contributions to metals trading, providing valued thought leadership for our clients and putting the firm at the heart of market structure developments in China.”

Casturo will keep his current role as head of commodities trading in Europe, the Middle East and Africa in addition to taking on McGarraugh’s duties. After joining Goldman Sachs in 1998, he was named a managing director in 2004 and partner in 2010. Anthony Kim, a managing director who joined the firm in 2004, was named global head of precious-metals trading, the memo shows.

Before it's here, it's on the Bloomberg Terminal.