Bloomberg News

HKEx Names New Heads of Global Markets After LME Takeover Closes

January 07, 2013

Hong Kong Exchanges and Clearing Ltd., the world’s biggest bourse operator by market value, named Romnesh Lamba and Martin Abbott co-heads of global markets as it completes its takeover of the London Metal Exchange.

Abbott, 52, will remain chief executive of the LME, the HKEx said in an e-mailed statement today. Lamba, 49, will become the chief executive of The Stock Exchange of Hong Kong Ltd. and Hong Kong Futures Exchange Ltd. He was previously head of market development at the bourse, according to the release.

The exchange’s $2.2 billion takeover of LME, its first overseas acquisition, was completed in December. The offer was priced at 181 times LME’s 2011 net income, making it the most expensive bourse merger over $1 billion. LME is the venue for more than 80 percent of metals trading.

As CEO of the stock and futures exchanges Lamba succeeds Gerald Greiner who has been appointed HKEx’s head of global clearing, the exchange said. Reporting to Greiner, 56, will be new co-heads of clearing risk management Felix Wang, Ketan Patel and Chris Jones, according to the release.

In its announcement, HKEx also named Bryan Chan and Calvin Tai co-heads of its equities and FIC business. Both men previously held senior positions at the bourse, the exchange said.

The bourse also appointed Henry Ingrouille as its chief operating officer. He was a managing director at Morgan Stanley prior to joining HKEx, and was previously the bourse’s chief administrative officer, according to its release.

HKEx appointed David Graham as its chief regulatory officer in October. Graham will be the designate head of listings, succeeding Mark Dickens upon his retirement in July 2013.

To contact the reporter on this story: Natasha Khan in Hong Kong at nkhan51@bloomberg.net

To contact the editor responsible for this story: Hwee Ann Tan at hatan@bloomberg.net


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