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Board Election Results - LBMA AGM 2016

Wednesday, September 28, 2016

The LBMA’s twenty-eighth Annual General Meeting took place on 27 September.

This year it was the turn of the Full Member representatives on the Board to stand down, although they were eligible to stand again for election for a further two-year period. Nominations were also invited from individuals wishing to stand for these three positions. An election was therefore required to decide which Full Member representatives would be re-elected or elected.

The following Full Member representatives were re-elected or elected to the Board:

Grant Angwin, Asahi Refining
Mehdi Barkhordar, PAMP S.A.
Hitoshi Kosai, Tanaka Kikinzoku Kogyo K.K

At the General Meeting in June, it was agreed that the number of Market Maker representatives on the Board be reduced from five to three. Given that there were more Market Maker representative incumbents than there are positions on the Board, a run-off was held to decide which three representatives would continue for the last year of their two-year term.

The results of the Market Maker representative’s run-off was as follows:

Peter Drabwell, HSBC Bank plc
Steven Lowe, Bank of Nova Scotia-ScotiaMocatta
Sid Tipples, JP Morgan Chase Bank N.A.

Steven Lowe was also re-elected as the Vice-Chairman of the LBMA.

As previously announced Dr Paul Fisher was recently appointed as the new independent Non-Executive Chairman of the LBMA. Grant Angwin, President of Ashai Refining, the outgoing Chairman of the LBMA will step down at the end of the year following two and half years of service. For the remainder of 2016, Grant will continue to work alongside Paul as Co-Chairman to provide support and continuity for the market. The other two Non-Executive Directors of the LBMA Board will be announced in the near future.

In his report for the past year, Grant Angwin commented on the number of issues the LBMA had faced over the past year and how well it had responded to the various challenges facing the market. A copy of Grant’s speech can be found here.

LBMA Media Contact:
Aelred Connelly
+44 20 7337 9786

Press Release