NEW YORK (HedgeWorld.com)–Julian Barrowcliffe joined the New York office of Vega Asset Management, a US$11 billion global macro and bond arbitrage shop, as a managing director. He will run a new commodities trading fund for the firm.

Mr. Barrowcliffe comes to Vega from Bank of America, where he was managing director and global head of energy trading since 1999. At the bank, he managed a derivatives business and traded crude oil and refined products.

He started his career at Shell International Trading Company in London as a crude oil trader and has led commodities trading at several companies, including Bankers Trust Co., Merrill Lynch and Cinergy Capital & Trading, according to Vega.

“We believe that adding a commodities component to Vega’s overall portfolio will positively enhance our performance from a risk/reward standpoint,” said Vega Chief Executive Jon Berg, in a statement. “Julian (is) principally a relative value trader and that’s completely in line with Vega’s approach to other markets, making him a great fit for the firm.”

Vega is headquartered in London but has been building up its North American operation by adding managers and acquiring a marketing firm (see previous, and ).

CKurdas@HedgeWorld.com