City Of London
LME CEO Backtracks on Exit Plan After Nickel Market Chaos
- Chamberlain has signed multiyear contract to remain at the LME
- CEO announced resignation earlier this year for crypto role
Matthew Chamberlain
Photographer: Anthony Kwan/BloombergThis article is for subscribers only.
London Metal Exchange Chief Executive Officer Matthew Chamberlain will remain to steer the company through the fallout from March’s nickel crisis after canceling plans to leave for a crypto startup.
Chamberlain’s impending exit came at a tumultuous time for the LME, which has been lambasted by some users for its handling of the unprecedented short squeeze in nickel. U.K. regulators announced a rare review following the chaos, and the exchange -- where benchmark prices are set for the world’s key industrial metals -- has seen open interest slump dramatically as traders and investors cut exposure.