The constitution of the Board is defined in the Articles of Association of LME Clear. The Board comprises:
The Executive Directors are the Chief Executive of LME Clear, the Chief Executive of the LME, the Co-Head of Market Development of HKEX and the Group Risk Officer at HKEX. In respect of the Independent Directors, two of these are appointed by the Shareholder, HKEX UK, and three are appointed by the Board.
The initial make-up of the Board was confirmed in a Press Release issued on 17 December 2013. As of April 2020, the Directors are as follows.
Richard Thornhill was with Slaughter and May for 36 years, and as the senior partner of Slaughter and May’s Hong Kong office he was responsible for all practice and operational matters of the office, including the Beijing office. Mr Thornhill practised corporate law, which covered equity and debt capital markets work, financings and mergers and acquisitions. He holds an MA degree from Oxford University.
Mr Romnesh Lamba is HKEX’s Co-head of Market Development and member of the HKEX Management Committee. Prior to join HKEX, Mr Lamba was a senior adviser of Asia ex-Japan corporate finance and capital markets business of JP Morgan (Hong Kong) from 2008 to 2010. From 2000 to 2008, he held various senior positions in Merrill Lynch (Asia Pacific), including Managing Director of investment banking, Chief Operating Officer of China origination business, and Head of Asia energy and power team. Prior to 2000, he worked in various investment banking positions for firms in Hong Kong and the United States of America.
Mr Lamba holds a Bachelor of Science degree in Economics and a Master of Business Administration degree from the Wharton School, University of Pennsylvania.
Mr Farnham joined Turquoise Global Holdings Ltd (LESG) in 2007 as chief operating officer and became chief executive officer in 2010. He was instrumental in the market launch of Turquoise, working with Cinnober Technology on the initial implementation of the platform. In 2011 he led the platform expansion into derivatives. Prior to Turquoise, Mr Farnham worked as an executive director of operations at Morgan Stanley for 13 years. In 2013 he was appointed as the Chief Operating Officer of LME Clear, overseeing the building and eventually the day to day running of LME Clear. In January 2016 he was appointed as LME Clear’s Chief Executive.
Mr Strimer, a Swiss citizen, is Head of Securities and Tax at ARIZON Sourcing AG, a retail banking platform provider based in Switzerland. Before joining in 2011, Mr Strimer was Head of Operations at Bank Notenstein AG. Before that he was Global Head of Operations at Bank J. Safra Sarasin and CEO of SIX x-clear (a bank under Swiss law and recognised overseas clearing house (ROCH) in the United Kingdom) belonging to SIX Group. As CEO of SIX x-clear he expanded the clearing services from SIX Swiss Exchange to also cover the London Stock Exchange and most of the multilateral trading facilities (MTFs) in Europe, covering various products.
Mrs Humphery is an investment banking professional with over 30 years’ experience. She is currently working as an independent consultant providing strategic advisory services on European market infrastructure and financial services business, operations and administration.
Mr Stuart was appointed as an Independent director of LME Clear Limited on 26 April 2016. Mr Stuart is a Chartered Accountant and Investment Banker. He was a Managing Director and Executive Committee member with N M Rothschild, where for thirty years he advised on strategy, financing and M&A for a wide variety of companies in the UK, Europe and Australia. He has held a number of non-executive directorships since his retirement in 2011 and currently is the Hon Treasurer and a Council member at the University of Surrey. He is also an Independent director of The London Metal Exchange.
Mr Leung joined HKEX in October 2011 and is currently the Group Chief Technology Officer. In his position, Mr Leung is responsible for the technology strategy and operations in Hong Kong and London. He leads the technology effort across the Group to ensure the development and operations efforts are coordinated and the engagement with the vendors is optimised.
Mr Leung has worked with exchange and financial sector technology over the past three decades. Prior to joining HKEX, he was the Chief Technology Officer for Chi-X Global. Mr Leung joined Chi-X Global in conjunction with Chi-X Global’s 2008 acquisition of Cicada. Prior to joining Cicada, Mr Leung held a 14-year career with Dow Jones Telerate in the Asia Pacific region, where he served in various senior technical positions.
Mr Stephen Yiu was appointed to the Board of LME Clear Limited on 12 June 2017. Mr Yiu was the Chairman and CEO of KPMG China and Hong Kong from 2011 to 2015.
He joined KPMG Hong Kong in 1983 after graduating from Hong Kong Polytechnic and was seconded to KPMG in London from 1987 to 1989. He became a partner of the firm in 1994 and served as the Partner in Charge of Audit from 2007 to 2010. He became Chairman and CEO of KPMG China and Hong Kong on 1 April 2011. He was also a member of the Executive committee and board member of KPMG International as well as KPMG ASPAC from 2011 to 2015.
Mr Yiu was a member of Audit Profession Reform Advisory Committee and Mainland Affairs Committee of the Hong Kong Institute of Certified Public Accountants. He is currently a Council Member of Hong Kong University of Science and Technology and St Paul Co-educational College, an esteemed secondary and primary school in Hong Kong. Mr Yiu is a board member of the Independent Insurance Authority of Hong Kong; a newly established regulator for the insurance industry. He has recently been appointed an independent non-executive director of China Mobile Limited, the biggest mobile network operator in the People’s Republic of China.