AMT Futures, the brokerage arm of Amalgamated Metals Corporation, has hired former London Metal Exchange head of market development James Proudlock to replace current head Julian Rigby when he retires in June.

Proudlock joined AMT Futures in April as managing director with a view to replacing Rigby who is set to retire at the end of June after more than 30 years running the firm.

The broker said in a statement: “AMT Futures Limited is pleased to announce the appointment of James Proudlock as managing director, to take over from Julian Rigby who is to retire at the end of June after 30 years running the Company.”

AMT Futures added: “James has 30 years’ experience in commodities and futures brokerage at senior levels, including more than a decade with JP Morgan as a managing director, and also served as deputy chief executive of LME Clear, head of market development at the LME and also a Member of the Management Committee at the HKEX.”

Proudlock has held various roles since leaving the LME in August 2017. He was initially the chief executive of Direct Nickel Projects, a nickel and cobalt extraction firm, and more recently worked as a consultant.

Proudlock spent seven months at the LME as the head of market development and the deputy chief executive of LME Clear, the London-based clearing house.

Before joining LME, Proudlock was for almost 11 years a managing director at JP Morgan working in various commodities trading roles. He was also the global head of sales for exchange-traded commodities at UBS, a managing director at ED&F Man and worked in the Hong Kong office of John Swire & Sons, the international trade conglomerate.

Proudlock’s experience makes him one of the few commodities brokers in London who can compare with Rigby who has 40 years in commodities brokerage, almost 31 of which as the managing director of AMT Futures.

AMT is a long-standing LME category one member and can trace its history back to the foundation of the London metal market.