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Mr Heale has spent a large part of his career working outside the UK and was until February of this year the Chief Operating Officer of Jardine Fleming Ltd, Hong Kong.
Making the announcement The Lord Bagri CBE, chairman of the Exchange said:"I am delighted that Simon is to become the LME's next chief executive. He has an outstanding track record in a variety of businesses in Japan, the United States and Hong Kong. He is used to working in complex multinational enterprises, and has demonstrated that he is innovative as well as having well-honed financial and analytical skills.
"Simon has impressed all of those involved in the selection process with his strength of character, his appreciation of the challenges ahead and his keenness to tackle the tasks ahead with a fresh perspective. "I am positive that he will be a very worthy successor to David King, who has played an important part in identifying and implementing Exchange strategy over many years to ensure the LME's continued success.
"The Exchange has all the components for continuing and growing success. We are looking forward to the future with confidence while being cognisant of the increasingly tougher and competitive environment in which we operate."
Commenting on his appointment, Mr Heale said: "The LME's business is world renowned and strong, and I am very pleased to have been given the responsibility to build on that success for the future.
"I believe that I can bring a good deal of practical experience that is relevant to the Exchange, and I am keenly looking forward to the opportunity to help create and release all its further potential for the future."
