LME head of market development Proudlock leaves with immediate effect

James Proudlock, head of market development for the London Metal Exchange and LME Clear, will step down with immediate effect, as will Ian Greig, chief operating officer of LME Clear, the exchange said.

Matthew Chamberlain, chief executive of the LME, and and Adrian Farnham, chief executive of LME Clear, will be the acting head of market development at the LME and LME Clear and acting chief operating officer of LME Clear respectively, it said on Wednesday August 2.

“We would like to thank Iain for his leading role in launching and running LME Clear. Our real-time clearing solution, LMEmercury, remains at the forefront of the field and our recent product launches position the company for further growth,” Farnham in a press release.

Greig joined LME Clear four years ago and was part of the team launched it in 2014, serving initially as chief technology officer and as chief operating officer since January 2016.

Proudlock joined the LME in April and worked on the market engagement process around the discussion paper.

“The LME is indebted to James for his leadership of the market engagement process around the Discussion Paper, and his contribution to the LME’s strategic analysis. The LME’s new strategic plan, to be announced in September, owes much to James’ work and guidance,” Chamberlain said.