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Stewart Murray LBMA Chief Executive to Retire

Thursday, July 25, 2013

The LBMA has announced that Stewart Murray will retire in the fourth quarter of 2013 after having
served as its Chief Executive for the past 14 years.

David Gornall, the LBMA Chairman, paid tribute to Stewart’s role in the development of the
Association and the increase in its global presence in this period and noted that the plan is for
him to continue in a part-time consultancy capacity, especially in relation to the LBMA Good
Delivery system.

The LBMA Board will now begin the process of finding a successor.
For further information please contact Kathleen James, on Tel. +44 (0)207 337 9781 or
Fax. +44 (0)20 7283 0030.

About the London Bullion Market Association
The LBMA is the international trade association that represents the wholesale over-the- counter
market for gold and silver bullion. The LBMA undertakes many activities on
behalf of its members, including the setting of good delivery and refining standards, the
organisation of conferences and other events, and serving as a point of contact for the
regulatory authorities. For more information, please visit

Press Release