Robert has been with the Exchange for thirteen years, most recently as Warehouse Listings Manager. Prior to working for the Exchange Robert worked for Memaco Service UK Ltd in a number of roles covering the shipment of copper and cobalt.
Commenting on the announcement, Martin Abbott, LME Chief Executive, said:
“The LME is unique in the reach of its international network of warehouses and locations which are deemed as “good for delivery”. The quality of that network is a vital part of maintaining the globally accepted and trusted service that the LME provides.
“Robert’s role is therefore core to the ongoing success of the Exchange, and his experience and qualities will ensure that we continue to manage, develop and enhance our capabilities in these areas.”
Background
1. Robert assumes the role with immediate effect.
2. The role of Head of Physical Operations was most recently held by Liz Milan, who now leads the Exchange’s ferrous metals developments as Steel Business Manager.
3. The LME is the world’s premier non-ferrous metals market and achieved volumes of 87 million lots in 2006, an increase of 10.6% on 2005 figures, and equivalent to $8,100 billion in monetary terms.
4. The LME is a demutualised, shareholder-owned organisation that currently operates a model in which fees are kept to a minimum and all surpluses are rebated to shareholders.
5. On 4 January 2007 the LME announced its “2 by 2” growth strategy designed to double the volume of its business within the next three to five years.
6. In May 2005, the LME introduced global plastics futures contracts for polypropylene and linear low density polyethylene, with the addition of regional contracts due for introduction on 25 June 2007. In addition, plastics contracts will move from a monthly prompt date system to a daily model on this date, mirroring the Exchange’s non-ferrous metals trading model.
