May 19, 2015 / 10:24 AM / in 2 years

Veteran precious metals trader Michael Wagner to leave Volkswagen

LONDON (Reuters) - Veteran precious metals trader Michael Wagner is leaving German carmaker Volkswagen (VOWG_p.DE) after 14 years with the company, a source with direct knowledge of the matter told Reuters.

A Volkswagen emblem is seen at the 2015 New York International Auto Show in New York City, April 2, 2015. REUTERS/Eric Thayer

The departure of Wagner, who acts as head of commodity hedging for the world’s second-largest auto manufacturer behind Toyota (7203.T), leaves two other traders on the precious metals trading team.

Wagner, based at VW’s Wolfsburg headquarters, will remain at the company until the end of the month. His next role has yet to be confirmed.

The 56-year-old has worked in platinum group metals trading for 28 years, beginning his career at Johnson Matthey in 1987. He moved to Brandeis Hauk & Partners two years later and then Dresdner Kleinwort before joining Volkswagen in 2001.

Volkswagen did not respond immediately to a request for comment.

Reporting by Jan Harvey; Editing by David Goodman

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