London —  Daniel Maté, the billionaire metals trader and Glencore executive, is retiring from the company and handing over trading of zinc and lead to Nick Popovic, according to people familiar with the matter.

While the transition is expected to last some time, Maté, who is Glencore’s fifth-largest shareholder, has already handed over most of his responsibilities, said the people, who asked not to be identified ahead of an official announcement. ..

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