LONDON, March 20 (Reuters) - The London Metal Exchange has appointed Deputy Chief Executive Diarmuid O‘Hegarty as chief operating officer (COO), it said in a notice to its members on Wednesday.
It said the role is new and O‘Hegarty would take charge of much of the day-to-day operation of the LME, which was bought last year for $2.2 billion by Hong Kong Exchanges and Clearing (HKEx).
The job will replace O‘Hegarty’s role as deputy CEO and follows the appointment of LME CEO Martin Abbott as co-head of HKEx’s global markets division.
Abbott will continue to have oversight of the LME and its self-clearing project as well as retaining responsibility for group performance in London, the LME said.
O‘Hegarty’s appointment as COO will become effective once the LME has recruited a director of regulation and compliance to replace him in his current duties, it said.
Reporting by Susan Thomas; editing by Jason Neely