*

Notice period applies to new and existing employees,

depending

on seniority, sources say

*

Trafigura declines to comment

*

Energy traders like Mercuria, Gunvor, and Vitol return to

metals

trading

By Julian Luk and Pratima Desai

LONDON, Sept 4 (Reuters) - Commodities trading company

Trafigura has extended the notice period for traders leaving the

firm to a minimum of six months or up to one year, three sources

with knowledge of the matter said, after recent employee

departures.

It is not known exactly when changes were made to extend the

notice period, but the sources said they apply to new and

existing employees and depend on seniority levels.

A longer notice period could discourage traders from

applying to work at Trafigura, one of the sources said.

Trafigura declined to comment.

Energy traders including Mercuria, Gunvor and Vitol are

returning to trading in metals after an absence of many years,

looking to diversify from oil and cash in on a bonanza they

expect to be created by demand for clean energy transition and

wider use of artificial intelligence.

They have made hefty profits from fossil fuels such as oil

and gas, prices of which rocketed in the aftermath of Russia's

invasion of Ukraine in February 2022.

Leaving Trafigura and joining Mercuria in recent months are

Mehdi Wetterwald in Geneva, Michaela Dempsey in the United

States and Leonard D'Offay in Dubai, according to their LinkedIn

profiles.

They are joining ex-Trafigura trader Kostas Bintas at

Mercuria.

Wetterwald, Dempsey and D'Offay did not immediately respond

to requests for comment on LinkedIn.

Mercuria declined to comment.

Trafigura in June sent a letter to current and former

employees proposing share clawbacks for breaches of

confidentiality and its code of conduct.

Clawbacks are typically used by financial firms which

require money already paid out to employees to be returned in

the event of misconduct or poor performance.