Glencore International has finally got round to appointing a new IRO, two months after Nicholas Bias quit the role, according to a report from Bloomberg, citing a person familiar with the situation.
The commodities trader has hired Paul Smith as its new IR manager, who joins from London-based hedge fund Marshall Wace Asset Management, says the news service.
‘Smith spent six years at the London-based hedge fund manager as an analyst and portfolio manager covering the mining and basic materials industries,’ Bloomberg reports.
Smith will manage IR on a global basis for Glencore, which raised $10 bn through listings in London and Hong Kong in May.
That same month Bias left the company after less than four months in the job. While Glencore was without an IR manager, investor relations duties were handled by head of corporate finance Marc Ocskay.
Bias has since taken up a role as an executive at IRC, the Hong Kong-listed mining company that was spun off from Petropavlovsk in October last year.
[Article by Tim Human, Inside Investor Relations]