Martin Abbott

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Martin Abbott
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Occupation CEO
Employer London Metal Exchange
Location London
Website www.lme.com

Martin Abbott is the former chief executive officer of the London Metal Exchange. He was also co-head of global markets at Hong Kong Exchanges and Clearing Ltd. (HKEx), along with Romnesh Lamba.[1] The HKEx completed its takeover of the LME in December 2012.

Abbott resigned from the HKEx group in June of 2013, six months after steering the sale of the LME to Hong Kong Exchanges and Clearing, although he agreed to stay in his current positions until the end of the year.[2]

He assumed the role of CEO at the LME on October 2, 2006.[3]

Abbott has more than 20 years of experience in the industry.

Background

Abbott succeeded Simon Heale at the LME, where he worked as marketing director from 1990-1993. He rejoined the exchange from Metal Bulletin, where he was publisher and editor-in-chief of its Metals, Minerals and Mining Division. He also worked for LME Ring-dealing members Amalgamated Metals Trading Inc. (as president, 1998-2000), Sogemin Metals Inc. (as associate director, 1993-1996, and as president, 1996-1997), McGraw-Hill (as editor-in-chief, metals, Europe, 1988-1990), Metal Bulletin plc (As joint editor, 1984-1988). [4]

He started his career as a trainee reporter before moving to his first spell at Metal Bulletin and then McGraw-Hill.

Abbott was responsible for launching steel futures contracts at the LME in April 2008.[5] In September 2011, the LME began considering buyout suitors. Abbott issued a statement in October 2011 that an LME deal would not likely be reached until the end of the second quarter in 2012.[6][7]

In January 2012, Abbott came under fire for hiked trading fees at the LME. He ultimately defended the exchange's increase.[8]

A feature story was published on Feb. 15, 2012 regarding Abbott's history with the LME and the exchange's deadline for ownership bids.[9]

Education

Abbott studied at Leicester University in the UK.

References

  1. HKEx Names New Heads of Global Markets After LME Takeover Closes. Bloomberg.
  2. Martin Abbott to step down as HKEx's Co head of Global Markets and LME's CE. London Metal Exchange.
  3. Martin Abbott joins the LME as chief executive. LME.
  4. Press Release. LME.
  5. Martin Abbott steels himself for challenge at London Metal Exchange. The Times.
  6. LME deal not seen before the end of the second quarter: CEO. Reuters.
  7. London Metal Exchange CEO Talks Bids (Video). CNBC.
  8. LME chief rebuffs calls on trading fee rise. Financial Times.
  9. Coal Miner Turns Dealmaker at London Metal Exchange: Commodities. Bloomberg.