The Hong Kong Stock Exchange named industry veteran Garry Jones as the CEO of the London Metal Exchange, ending a high-profile recruitment process by selecting a former top executive at the NYSE Liffe. Jones, with 30 years of experience in the exchanges and financial services industry, inherits a difficult role at a time when the LME is caught in a controversy over warehousing metals and its impact on consumers. The Hong Kong Exchanges and Clearing Ltd (HKEx), as the exchange is formally known, said Jones will begin on Sept. 30 and will be a member of the LME board in addition to his role as chief executive. In a regulatory filing, the HKEx said Diarmuid O'Hegarty, LME's deputy chief executive, told the exchange that he will resign from his duties after serving a six-month notice period. Several top industry executives were said to be in contention for the LME role. Reuters reported last week that Martin Pratt, chief operating officer at Triland Metals Ltd, a non-ferrous metals
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