Old boys' club LME hires Huey Evans as first woman chair

The London Metal Exchange has appointed Gay Huey Evans as the first woman to chair one of the City’s last bastions of unreconstructed male behaviour.

Huey Evans will replace Brian Bender as the LME’s chair when he retires in December. In a City career spanning more than 30 years, Huey Evans has held senior jobs at Citi, Barclays and the Financial Services Authority.

Matthew Wiliamson, LME’s chief executive, said: "Gay’s global experience in developing policy and growing markets, combined with her deep understanding of risk, governance and regulation, will be paramount to LME as we continue to grow in an ever-changing landscape."

Huey Evans’s appointment may be part of a push to modernise LME, where Brexit campaigner Nigel Farage worked during his stint in the City. The exchange has not modernised at the same pace as other parts of financial services and has kept its reputation as an old boys' club where business is oiled on boozy nights out.

The exchange’s annual gathering, LME week, has been notorious for events held at lapdancing clubs and other racy venues. LME issued a new code of conduct for LME week in 2019 outlawing venues that could make "some market participants uncomfortable in attending".

Huey Evans has also been a director of the London Stock Exchange and deputy chairman of the Financial Reporting Council and is on the board at Standard Chartered.

She said: "I am very proud to have been elected chairman of the London Metal Exchange at such a pivotal time for the exchange. As metals play an increasingly important role in society with increased focus on ethical supply chains, the LME’s role and responsibility is vital."