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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

Matthew Chamberlain

Photographer: Anthony Kwan/Bloomberg
Updated on

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.