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The current chairman, John Pizzey, said: "Donald Brydon brings outstanding experience of business and finance to the LME. His knowledge of the City of London and its exchanges stands him in good stead to take over as the chairman of the LME. He will bring a different commercial outlook to the LME which, allied to the strong trade and practitioner elements of the board, will help the LME to build on its strengths and continue its evolution.
"On a personal note, I have been honoured to play my part in this evolution as a board director for the last five years and as chairman since the start of the year. The LME is a marvellous organisation whose role in the world of metals cannot be overstated. I am very happy that I am able to hand over the mantle of chairman with the LME so well placed, and do so to such an able person as Donald. I am also grateful for the personal support I have had as chairman from my board colleagues and the executive of the Exchange."
Commenting today Mr Brydon said: "I am delighted to have this opportunity to work with the board and executive of the London Metal Exchange. The LME is a unique part of the City, and a dominant global organisation. It straddles the world of finance while remaining close to its industrial roots. It has remarkable influence and an outstanding brand for such a compact business.
"The Exchange has undergone many changes in the last few years, and is in a powerful position to remain the non-ferrous metals futures and traded options exchange of choice. The core business is strong, and it is looking at exciting new prospects. The LME will continue to remain close to its trade business, and is exploring new opportunities. I am looking forward to the challenges and playing a full role in the development of the LME."
Mr Brydon, 58, will attend his first meeting of the LME board in September.
Donald Brydon is chairman of Amersham Plc and AXA Investment /Managers SA of which he was also chief executive from 1997-2002 during which time he was also a member of the AXA Group Executive Board. He is also a director of various subsidiaries of AXA Investment Managers SA including AXA Rosenberg Investment Management.
He graduated in mathematical science from the University of Edinburgh in 1967 and continued his association with the university in the Department of Economics in the roles of Research Associate and Tutor until 1970. From 1970 to 1977 he was employed by (British) Airways Pension Scheme as analyst and senior fund manager. Donald Brydon joined the AXA group in April 1997 after a 20 year career with the Barclays group during which he built the group's investment arm becoming Chairman and Chief Executive of BZW Investment Management and latterly acting chief executive of BZW.
He is a director of Allied Domecq Plc, Edinburgh UK Tracker Trust Plc and Scottish Power Plc.
He is chairman of the Financial Services Practitioner Panel and of the Code Committee of the Panel on Takeovers and Merger (UK). He is a member of the Market Participants Advisory Panel at CESR. He was the founding president of the European Asset Management Association of which he is now vice president.
He is chairman of EveryChild, the international children's development charity.
