LORD COPPER: LME’s Chamberlain can steer exchange on middle course

It doesn’t really seem that long ago since the position that has now morphed into ceo of the London Metal Exchange was not much more than a bureaucratic role – it was almost secretarial in ensuring the smooth operation of the instructions given down by the board, at that time made up exclusively of member representatives.

And make no mistake: the power resided firmly and unequivocally with those representatives chosen by their peers. That self-interest was left (almost) completely at the boardroom door is a credit to the integrity of those involved. But times move on, and a changing structure, changing governance, changing regulatory requirements – well, a changing world, in fact – have brought us to a different place. No longer the exclusive property of the members, the twin inputs of financial regulation and external share ownership have shifted the LME to a very different place. The ceo is...

Published

Lord Copper

April 28, 2017

14:54 GMT

London