HONG Kong Exchanges and Clearing has offered the job of London Metal Exchange (LME) chief executive to veteran broker Martin Pratt, according to two sources familiar with the matter, it emerged yesterday.
Pratt, who is chief operating officer at non-ferrous metals futures broker Triland Metals, would replace outgoing chief Martin Abbott, who announced plans to leave in June.
A former colleague of Pratt’s said that his extensive market knowledge and trading experience made him a stand-out candidate for the role. “He has shown strong leadership, he is great at developing ideas and has brilliant contacts,” he told City A.M. “I don’t think Triland could resent him leaving as it’s the biggest job in the market.”
“Pratt was an obvious player. Some cynical people said it was because he has worked in Asia and knows how to work with Chinese companies,” another industry source told City A.M.
The LME and owner HKEx declined to comment.