Huey Evans first female LME chairman in 142-year history

THE London Metal Exchange has appointed its first female chairman.

Gay Huey Evans, a former banker and City regulator, will replace Sir Brian Bender when he retires in December after nine years.

Ms Huey Evans, who had spells at the Financial Services Authority and Financial Reporting Council as well as at Barclays and Citi during a 30-year City career, would help LME to “grow in an ever-changing landscape”, said chief executive Matthew Chamberlain.

The 142-year-old exchange handled 185m trades last year worth £12trillion, covering physical trades of metal as well as futures contracts. It was bought by the Hong Kong Stock Exchange in 2012 and has expanded into precious metals trading. Earlier this year, the LME proposed new standards on responsible sourcing of metals to ensure it was not facilitating the sale of materials produced by child labour. The LME, once a haunt of Nigel Farage in his days as a metals trader, retains one of the last open outcry trading floors where brokers shout prices at each other in fiveminute bursts across its “Ring” lined with red sofas.

Ms Huey Evans said she was proud to take on the role: “As metals play an increasingly important role in society with increased focus on ethical supply chains, the LME’S role and responsibility is vital.” Metals and mining remains maledominated, and the annual LME Week gathering has attracted controversy for boozy parties and strip club visits.

The LME launched a new code of conduct this year advising staff that events “should not take place at venues which ... could make some market participants uncomfortable in attending”.

Cynthia Carroll, ex-boss of Anglo American, is one of the few women to have led a major mining company. In 2016 Anglo-australian giant BHP said that half its workforce must be female by 2025.