HONG KONG - Hong Kong Exchanges and Clearing Limited (HKEX) and its wholly owned subsidiary London Metal Exchange (LME) have announced a new leadership structure to strengthen and secure LME's role as the centre for global metals trading.

Mr Matthew Chamberlain has been appointed as chief executive of the LME with immediate effect subject to approval of United Kingdom's Financial Conduct Authority (FCA), the two exchanges said in a joint press release on Friday. Mr Chamberlain will remain on the LME board and will continue as a member of HKEX's management committee, it added.

Mr Chamberlain will work closely with Adrian Farnham, LME Clear chief executive, while James Proudlock will take on the role of managing director for the LME and LME Clear, reporting to Mr Chamberlain and Mr Farnham.

"We are confident that Matthew, together with Adrian and James, are the right leadership team to bring further success for the Group as we continue to grow our business and extend our geographical reach," said Charles Li, HKEX chief executive.