IXM’s co-head of refined-metals trading is leaving the company, the latest in a series of personnel changes at the trading house owned by Chinese miner CMOC.
Adhitya Sethaputra is departing the Geneva-based trader, leaving Tom Mackay as the sole head of refined metals, according to people familiar with the matter, who asked not to be identified because the matter isn’t public.
He had worked at IXM since 2012 when it was the metals-trading arm of agricultural giant Louis Dreyfus, taking on senior roles including head of aluminum and then co-head of refined metals.
IXM, which is the third-largest metals trader behind Trafigura Group and Glencore, announced earlier this year it would be pulling back from the aluminum market. The company has undergone a period of upheaval under CEO Kenny Ives, a former Glencore executive who took the helm in 2022 and has embarked on a hiring spree while cutting other jobs and reshuffling teams internally.
A spokesperson for IXM didn’t immediately respond to a request for comment.