William Mitting talked with Garry Jones, the CEO of the LME, about the challenges ahead from China to Detroit and why he was right about Liffe.
Garry Jones has not changed one bit. Following a 16 month
hiatus from management, he returned last month to run the
London Metal Exchange at a pivotal time for the metals market
and the exchange itself. He is his usual bullish-self,
bristling with ideas, self confidence and ambition.
He will need all those attributes as he steers the 136-year
old market through its most transformative age,
transitioning the exchange from a quasi-mutualised bourse into
a for-profit market and fighting off numerous challengers in an
increasingly globalised marketplace.
The London Metal Exchange was acquired last year by Hong
Kong Exchanges and Clearing in a £1.4bn deal that saw the
Chinese exchange group beat off competition from the
IntercontinentalExchange and the CME. Martin Abbott, the LME
chief executive who led the sale departed soon after along with
a number of his management team.
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