London Metal Exchange Appoints Matthew Chamberlain as New CEO

By Sarah McFarlane Features Dow Jones Newswires

The London Metal Exchange has appointed Matthew Chamberlain as Chief Executive, the exchange said on Friday.

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Mr. Chamberlain, who was previously chief operating officer and head of strategy at the LME, had already been performing the role on an interim basis since former CEO Garry Jones stepped down in January.

The management change comes as the 140-year-old exchange faces falling volumes, not least after raising its fees. The average daily volume in 2016 fell almost 8% from the previous year, according to the LME website.

The LME is owned by Hong Kong Exchanges and Clearing Limited (HKEX).

The exchange said that Mr Chamberlain will remain on the LME board and continue to be a member of the HKEX Management Committee.

Write to Sarah McFarlane at sarah.mcfarlane@wsj.com

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(END) Dow Jones Newswires

April 21, 2017 08:23 ET (12:23 GMT)