Indiana Grain Company, LLC

Posted: 02/11/10

By: tomgrisafi

We at Indiana Grain would like to congratulate Stuart Staley.

Citigroup Inc. named Stuart Staley head of global commodities, succeeding John Casaudoumecq, who plans to retire.

Staley is currently deputy head of commodities and takes over immediately, according to an internal memo, a copy of which was obtained by Bloomberg.

Staley moves to London in April.

“Some of our greatest opportunities to grow the business exist in Europe and Asia,” Jamie Forese and Paco Ybarra, co-heads of global markets, said in the memo.

Citigroup offers services in commodities including oil and refined products, gas and power, industrial and precious metals, freight and agriculture, according to its Web site. The bank has more than 200 people in commodities working from offices in Calgary, Houston, London and Singapore. Citigroup Inc. said it agreed to sell its Phibro LLC energy-trading business to Occidental Petroleum Corp. in October.

Staley was previously chief executive officer of AEP Energy Services Ltd. in London and joined Citigroup in May 2004, according to the memo. He also worked for Enron Corp. in Houston and London for six years.

Casaudoumecq, 50, has been with Citigroup for 25 years and managed Canadian fixed-income trading, the bank’s San Francisco office and U.S. fixed-income derivatives sales and structuring, according to the memo. He was also chief operating officer of global fixed income.

Source: Bloomberg