A portrait of Lord Bagri etched into a copper cathode now hangs in the mezzanine gallery of the LME, overlooking the open outcry trading floor, after a ceremony during this year’s LME Week in London.
Lord Bagri’s link to the trading floor was intensely personal. He set up a company which, in February 1970, became one of the first two overseas members of the exchange, an achievement he described as one of the highs of his career.
That firm, Metdist, was a ring-dealing member of the LME and continued on the trading floor after CCBI, the investment banking arm of China Construction Bank, completed its purchase of a 75% stake in Metdist Trading Ltd in April 2016.
CCBI Metdist became the first company to be majority-owned by a Chinese bank and to hold category I membership of the LME.
Lord Bagri, who was awarded a life peerage during his tenure as the longest serving...