LME Operations Manager Announced

The London Metal Exchange (LME) has today confirmed the appointment of Liz Milan as Operations Manager. Ms Milan will join the Physical Operations Department on 3 January 2005. She is to replace Mike Cotterill, who is leaving the Exchange, as planned, on the completion of his long term contract in the middle of 2005.

Commenting on the appointment, Simon Heale, LME Chief Executive said: “Physical operations and warehousing are core to the success of the Exchange and Liz’ experience and qualities will ensure that we manage, develop and enhance our capabilities in these areas. Indeed, her knowledge of working within a member firm will be invaluable.”

Background

1. Ms Milan will begin her employment at the London Metal Exchange on 3 January 2005.
2. She has most recently held senior trading positions at Sempra, Enron and Uvisco.
3. She is FSA Approved and holds a BSc (Hons) Biotechnology from University College London.
4. The LME is the world’s premier non-ferrous metals market. With highly liquid contracts, it is a successful exchange, with a turnover value of some US $2,000 billion per annum. It is a major contributor to the UK’s invisible earnings, responsible for more than £250 million in overseas earnings each year.
5. Trading takes place through open outcry in “the ring”, through the electronic platform of LME Select and via an inter-office broker/dealer telephone market.