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London Metal Exchange chief to quit after Hong Kong sale triumph

Posted on 07 June 2013

Martin Abbott quit as chief of the London Metal Exchange (LME) on Thursday, six months after triumphantly steering a sale to Hong Kong owners of the world’s biggest marketplace for materials such as copper and zinc.
While admirers and critics credit him for persuading the 137-year old London institution’s fractious shareholders to accept the $2.2 billion takeover by Hong Kong Exchanges and Clearing (0388.HK), he leaves boiling controversy over an LME warehouse system that constantly frustrates industrial users……………………………………Full Article: Source


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