* Glencore hires ex-BP Asia trading chief from Goldman
* Chin Thean Quek big player in Singapore fuel oil trading
* Goldman appoints Xiao Qin as new Asia commodities head
By David Sheppard
LONDON, March 16 (Reuters) - Glencore has hired the head of Goldman Sachs Group Inc.'s commodity business in Asia to run its Singapore operations, two industry sources said on Monday, appointing a veteran fuel oil trader in the world's largest hub for the heavy fuel.
Oil dealer Chin Thean Quek, who once headed BP Plc's Asian trading operation, had built a reputation as one of the most powerful traders in the Singapore-centred fuel oil market before joining Goldman two years ago.
His appointment comes as Glencore has praised how its trading expertise can buffer results against the collapse in oil, metal and iron ore prices, with the firm emphasising its commodity dealing roots in its latest results.
Glencore already owns global fuel oil trader Chemoil, but firms have been focusing increased resources on the Singapore market, seeing opportunities after the collapse of Danish shipping fuel trader OW Bunker late last year.
Mark Catton, Glencore's former head in Singapore, is moving back to London after 18 years in Asia, one of the sources said, without saying what new position he is taking at the commodity trader and miner where he has worked since 1990.
Quek, who left BP with his team to run China's Brightoil Petroleum in 2010, brings with him from Goldman a reputation for quickly establishing one of the largest fuel oil operations in Singapore, the world's hub for trading the heavy fuel.
Within two years of joining Brightoil his team was dominating the fuel oil derivatives market in Singapore, trading the equivalent of 17.3 million tonnes a year or more than double that of BP, its closest rival.
Brightoil also became the second-largest bunker supplier by volume in Singapore in 2011, according to the Maritime Port Authority of Singapore.
BP sued Quek and five other ex-employees in 2010 alleging they had taken confidential company information, including oil trading 'cheat sheets'. The team of six counter-sued BP for wrongful dismissal, saying it had withheld money owed to them.
To replace Quek, who joined Goldman two years ago, the bank has appointed Xiao Qin as the new head of its Asia commodities business, according to an internal memo seen by Reuters and confirmed by a spokesman for the bank.
Banks have faced increased regulatory pressure on their physical oil and metal trading activities, though Goldman has stuck with the multi-billion dollar business even as many rivals have pulled back.