LME Board Retiree

The London Metal Exchange has yesterday confirmed that The Rt Hon The Lord Fraser of Carmyllie QC has stepped down from his position as an independent director of the LME Holdings Board with effect from 31st August 2009. Lord Fraser, who is 64, is retiring from this position and also from his position as a member of the audit committee. However he will remain a member of the LME’s Special Committee and its Arbitration Panel Committee.

LME Chairman Donald Brydon paid tribute to Lord Fraser’s substantial involvement with the exchange noting "Lord Fraser has shown extraordinary loyalty and commitment to the exchange for more than ten years."

Lord Fraser served on the board of LME Limited from 5th October 1997 to 4th January 2007 and on the board of LME Holdings from 4th January 2007 to the end of August 2009. He became a QC in 1982. In 1979 he was elected Conservative MP for Angus and was made a Life Peer in 1989 after which he was appointed to several ministerial positions, including at the Scottish Office, DTI, and Energy.