Hong Kong Exchanges and Clearing Limited (HKEX) announces that after more than nine years with the business, Matthew Chamberlain, CEO of the London Metal Exchange (LME) and Group Head of Commodities, will be stepping down on 30 April 2022 to pursue career interests outside of the Group.

He was previously the COO and Head of Strategy of the LME and co-Head of Business Development across the LME and LME Clear.

During his time at the LME, Mr Chamberlain has led the LME’s warehousing reform process, the deployment of the new London platinum and palladium prices and the LMEprecious initiative.

Mr Chamberlain joined the LME in November 2012 having advised HKEX on the acquisition of the LME while heading European financial technology coverage at UBS. Previously, he was a founding member of the financial institutions coverage team at Perella Weinberg. He started his career at Citibank. Mr Chamberlain holds an MA from Cambridge University.

Adrian Farnham, LME Clear CEO, effective 1 May 2022, will become Interim LME CEO and Group Head of Commodities. He will become a member of HKEX Management Committee and report to Group CEO, Nicolas Aguzin.

Mr Farnham joined HKEX Group in 2013 and brings more than 30 years’ experience of financial markets and market infrastructure to the role. HKEX will utilise the period ahead of Mr Chamberlain’s departure to select an appropriate Interim LME Clear CEO, to ensure a smooth and effective handover.

Matthew Chamberlain, LME CEO, said:

“I have had the most rewarding and enjoyable decade with the LME, working with a team and a community that I love, and I am proud of the many things that we have achieved over that period. But it is now time for me to move on to new challenges. Adrian Farnham, who has worked alongside me at the LME for much of the last nine years, is an excellent choice as Interim LME CEO and HKEX Head of Commodities, and I know that the market and my colleagues across the Group will continue to do all they can to support him and the business in the future.”

HKEX and the LME Board have already convened a search committee and have begun a formal search process.