Picture: REUTERS
Picture: REUTERS

London — The London Metal Exchange (LME) on Friday appointed Gay Huey Evans as the first female chair of the global centre for industrial metals trading.

Huey Evans, who has spent more than 30 years working in the financial services industry and international capital markets, will take up the post at LME in December, succeeding the retiring Brian Bender.

"I am very proud to have been elected chair of the LME at such a pivotal time," she said in a statement.

"As metals play an increasingly important role in society with increased focus on ethical supply chains, the LME's role and responsibility is vital."

She will head the exchange, in operation since 1877, as it gradually adopts new ethical standards to ensure better traceability of raw materials, especially those most at risk such as cobalt.

Huey Evans is currently a nonexecutive director of Standard Chartered, Bank Itau BBA International and ConocoPhillips.

She is also a member of the US Council on Foreign Relations and serves as a nonexecutive member of the British Treasury board.

LME CEO Matthew Chamberlain said: "Her global experience in developing policy and growing markets, combined with her deep understanding of risk, governance and regulation, will be paramount."

The LME belongs to the group running the Hong Kong Stock Exchange.

AFP