The 142-year-old London Metal Exchange has appointed former banker Gay Huey Evans as its first female chairman.
Ms Huey Evans, a former vice-chairman at Barclays Capital, will replace Sir Brian Bender when he retires from the board in December.
The LME, which is owned by the Hong Kong stock exchange, is the world’s centre for global metals trading. The heart of a male-dominated metals trading community, it has one of the last open outcry trading floors, where mostly male traders still shout buy and sell orders in a “Ring” surrounded by red sofas.
Ms Huey Evans’ career spans banking, fund management and regulation. She spent seven years with the Financial Services Authority from 1998 to 2005, and also worked at Citi.
She is a non-executive director at Standard Chartered, Itaú BBA International and ConocoPhilips.
“I am very proud to have been elected chairman of the London Metal Exchange at such a pivotal time for the exchange,” Ms Huey Evans said.
“As metals play an increasingly important role in society with increased focus on ethical supply chains, the LME’s role and responsibility is vital.”