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LME Clear board structure

LME Clear

The constitution of the Board is defined in the Articles of Association of LME Clear. The Board comprises:

  • four executive directors (the "Executive Directors"); and
  • five non-executive directors (the "Independent Directors").

The Executive Directors are the Chief Executive of LME Clear, the Chief Executive of the LME, the Co-Head of Global Markets at HKEx and the Group Risk Officer. In respect of the Independent Directors, two of these are appointed by 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  May 2016, the Directors are as follows.

Executive Directors

    Adrian Farnham (Chief Executive, LME Clear)    
    Trevor Spanner (HKEX Chief Operating Officer)
    Ketan Patel (Group Risk Officer)

Independent Directors

    Richard Thornhill, Chairman
    John Harrison
    Marye Humphery
    Antony Stuart
    Marco Strimer


LME Clear director biographies

  • Richard Thornhill - Chairman

    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.

  • Trevor Spanner - HKEX Chief Operating Officer

    Trevor Spanner joined the LME in November 2012. Trevor attended the University of Kent and graduated with a BA (Hons). He is also a Chartered Accountant. Before joining LME Clear, Trevor was at EuroCCP, the European clearing house of the DTCC. He played a leading part in the initial set up and launch of the clearing house, and as Chief Operating Officer he was responsible for its day-to-day business operation. Throughout his career Trevor has been actively involved in market infrastructure development, including board membership of LCH from 2003-4. Trevor joined HKEX as Chief Operating Officer in early 2016.

  • Ketan Patel - HKEx

    Mr Patel is a member of the Hong Kong Exchanges and Clearing Limited (HKEx) Management Committee and is the Group Risk Officer. Mr Patel joined HKEx in 2012 as Co-deputy Head of Risk Management until 2013 where he was promoted to the position of Co-head of Clearing Risk Management and Head of FIC & OTC Clearing Risk Management. Mr Patel also served as the chairman of the Default Management Group for OTC Clear until December 2014. Prior to joining HKEx, Mr Patel was at CME Group between 2005 to 2011 where he held the positions of executive director and director of risk management. Mr Patel holds a Bachelor in Management from Purdue University, USA and a Master of Business Administration (Economics and Analytical Finance) from Booth School of Business, The University of Chicago.

  • Adrian Farnham - LME Clear CEO

    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.

  • John Harrison - INED

    Mr Harrison was appointed a Board director of the LME on 6 December 2012. He is currently an Independent Non-Executive Director of HKEx. Mr Harrison is also an independent non-executive director of AIA Group Limited and BW Group Ltd, a member of the Asia Advisory Committee of Australian Super Pty Ltd and Honourary Treasurer, The Hong Kong University of Science and Technology. Mr Harrison retired in September 2010 as the former deputy chairman of KPMG International. He also held various other senior positions in KPMG during his service, including the chairman of KPMG’s Asia Pacific region and chairman of KPMG China and Hong Kong from 2003 to 2009, and a partner of KPMG Hong Kong from 1987 to 2009. Mr Harrison holds a Bachelor of Science degree in Mathematics from Durham University and is a fellow of the Institute of Chartered Accountants in England and Wales and a member of the Hong Kong Institute of Certified Public Accountants.

  • Marco Strimer - INED

    Mr Strimer, a Swiss citizen, is Head of Operations at Bank Notenstein AG, a leading Swiss Private Bank. Before joining in 2011, Mr Strimer was Global Head of Operations at Bank J. Safra Sarasin. Before that he was CEO of SIX x-clear (a bank under Swiss law and recognised overseas clearing house (ROCH) in the United Kingdom) belonging to SIX Group. Besides his position as CEO he was also a member of the Executive Board and in charge of risk management within the Securities Services Division of 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. His career started in 1991 in a Swiss Bank where he gained international banking experience as well as during a four-year stay abroad. In 1994, he joined former INTERSETTLE which eventually became part of the SIX Group. During this time he was in senior positions at SIX Securities Services, CSD and Global Custodian.

  • Marye Humphery - INED

    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.

  • Antony Stuart

    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.