HKEx: LME Chief Executive Bailian Cheung will leave office

　　On January 21, HKEX announced that Bailian Cheung, Chief Executive Officer and Group Head of Commodities, london metal exchange (LME), will leave his post on April 30, 2022. Bailian Cheung has been with the Group for more than nine years and has planned to develop outside the Group.

　　LME Clear Chief Executive Officer Enlin Fung has been appointed Acting Chief Executive officer and Group Head of Commodities at the London Metal Exchange with effect from 1 May 2022. Fung will also be a member of the HKEX Management Committee, reporting to the Group's Chief Executive Officer, OCC.

　　According to a resume released by HKEX, Fung served as the chief operating officer of the trading platform Turquoise in 2007, was promoted to chief executive of Turquoise in 2010, and led the platform's expansion into the derivatives space in 2011. Prior to joining Turquoise, Feng spent 13 years as Executive Director of Operations at Morgan Stanley. In 2013, Fung was appointed Chief Operating Officer of LME Clear, responsible for its establishment and subsequent day-to-day operations. In January 2016, he was appointed Chief Executive Officer of LME Clear.

　　HKEX will use the time prior to Cheung's departure to appoint the appropriate LME Clear acting chief executive to ensure a smooth management transition.

　　OCC Group Chief Executive Ou Guansheng said that Cheung has consolidated LME's global leadership position in the metals industry over the past decade, and he has led warehouse reform, launched new products and projects including London platinum and palladium prices, and successfully introduced various modern business management models. In recent years, as the market has gradually attached importance to sustainable development, Cheung has also led the Responsible Sourcing Initiative and launched LMEpassport, a digital certification registration platform. All of this has not only grown the business of the London Metal Exchange, but also increased the disclosure and transparency of the global metal industry and the emphasis on sustainable development.

　　At present, the boards of directors of HKEX and the London Metal Exchange have set up selection committees to carry out the selection process. (Zhongxin Jingwei APP)