
About Us
LBMA Sub-Committees
Our Market and Board Sub-Committees advise on specific areas of expertise, enabling us to benefit from the knowledge, experience and dedication of senior members.
About Us
Our Market and Board Sub-Committees advise on specific areas of expertise, enabling us to benefit from the knowledge, experience and dedication of senior members.
The Finance Committee is responsible for monitoring the LBMA's finances, preparing the annual budget in the autumn and examining the draft accounts around March each year. View the Committee’s Terms of Reference.
Brian Pereira joined Brink's Limited in April 2008 and more recently became the Chair of the Finance Committee, having been on the Committee since 2012.
The Physical Committee is responsible for monitoring, developing and protecting the Good Delivery List. View the Committee’s Terms of Reference.
Ian began his Bullion career at JP Morgan in 1990 in Operations and held many roles in across a wide range of physical Commodities. He was very active in the Aurum development for Unallocated Clearing and acted as project manager for the LPMCL and JP Morgan in defining, developing and the testing of Aurum.
He joined Credit Agricole in 2007 to develop their Middle Office and Operations capability across Base metals, Energy and Bullion, and later building the capabilities to support European physical Gas and Power.
In 2013, Ian joined Standard Chartered Bank Commodities team as Head of Commodities Operations for Europe. Ian current role is Head Precious Metal Transaction management unit, and his team, who are based in Singapore and London are responsible for the management of the global inventory of all Standard Chartered entities. SCB have a significant Bullion derivative and physical global business with a strong physical capability in India, China and the Middle East.
The Public Affairs Committee is primarily responsible for organising events and speaker programmes, most notably for the LBMA Global Precious Metals Conference. View the Committee’s Terms of Reference.
Tom Kendall’s experience in precious metals spans more than 20 years and embraces both physical and financial markets. Tom is currently Head of Precious Metals Sales for ICBC Standard Bank Plc with responsibility for managing sales teams in London and New York, and oversight of the bank’s commodities strategy. He joined ICBC Standard Bank in June 2015 as Head of Precious Metals Strategy, a role that involved market analysis, commodity structured finance and business development.
Tom joined ICBC Standard Bank from LCM Metals UK LLP, an independent options brokerage, where he held the role of Head of Metals Strategy. Prior to that, he spent almost five years at Credit Suisse, latterly as Head of Global Commodities Research leading a team of commodity market analysts in London, New York and Singapore. At Credit Suisse, he worked with multinational corporate clients, institutional investors, hedge funds, and central banks and sovereign wealth funds.
His previous roles include three years as Precious Metals Strategist for Mitsubishi Corporation and five years as Head of Market Research for Johnson Matthey PLC, one of the world’s leading platinum group metals refiners and fabricators. Tom holds a BSc in Geology from Southampton University.
The Membership Committee is responsible for ensuring that the quality Association's Membership is maintained, as well as to encourage all suitably qualified companies involved in the bullion business to join the Association as Members. View the Committee’s Terms of Reference.
Nick is the Global General Manager of ABC Bullion in Sydney, the international facing role of business. Nick started his career in precious metals with Bank of Boston, then trading for Sumitomo Corporation Tokyo, arbitraging TOCOM gold futures and dealing with overseas banks and Central banks, then SC Europe, where he ran the precious metals swap books and Islamic finance book.
He moved to become manager of RBS Sempra Commodities Precious Metals desk, then the head of the Triland Futures precious desk. He then moved to join Mitsui Precious Metals Inc. in London before joining their team in Hong Kong to grow their Australasian business. Nick was formerly a member of the LBMA’s Management Committee, the Finance committee and has been involved in the Membership Committee for a number of years.
He has a bachelor’s degree in Economics with Psychology from City, University of London, a Diploma in Statistics from the Open University, UK, and a Master’s in Finance with Economic Policy from the School of Oriental and African Studies, University of London. He has worked in London, Tokyo, Singapore, Hong Kong and Sydney.
The Regulatory Affairs Committee monitors and disseminates information concerning international regulation affecting the bullion market. The RAC also suggests and outlines possible actions that the Association may take in response to proposed or upcoming regulation. View the Committee’s Terms of Reference.
In his current role, Tobias provides compliance advisory coverage to the Commodities business at HSBC, which includes base metals, precious metals and energy asset classes sales and trading, as well as lending support in relation to the overarching Financial Benchmark regulation.
A significant amount of his time is spent covering the precious metals business including the physical metals and custody business. He is also the global lead for commodities compliance, hence has significant involvement with both the US and Asia markets. Globally, HSBC has a comprehensive offering in precious metals and a long history of participation in the bullion market.
Prior to joining HSBC, Tobias was commodities compliance coverage at Barclays and prior to that covered exchange traded derivatives and commodities at UBS for a number of years, three of which were spent in the UBS Singapore office. Preceding this, Tobias was at Morgan Stanley within the FICC compliance team. He also sits on two of the FIA Compliance Committees (for metals and energy and emissions) where a broad range of global regulatory matters are discussed in line with evolution and changes in the commodities markets.
The Refiners' Committee discuss issues facing the market, exchange ideas and promote dialogue with LBMA. View the Committee’s Terms of Reference.
Ruth was appointed Chief Executive of the LBMA in January 2014. She is responsible for the success and strategic development of the LBMA, in partnership with the Chairman and the Board. She is also responsible for maintaining accountability to and the quality of, the Association's Membership and Good Delivery Refiners as well as representing the interests of the Association in relation to regulators, investors, media and international precious metals markets.
Before being appointed Chief Executive, she spent seven years working in the Association, initially as Commercial Director and then as Deputy Chief Executive, where she acted as the main lead on Governmental Affairs. She was also responsible for the Association's work on supply chain due diligence, with particular regard to the creation and implementation of the LBMA’s Responsible Gold Guidance. She has represented the Association at industry, governmental and multi-stakeholder regulatory forums. She continues to serve as Vice Chair of the OECD Multi-Stakeholder Governance Group for Responsible Minerals. As Commercial Director, she oversaw the development of the LBMA Conference, the LBMA's quarterly publication the Alchemist and the LBMA website.
Prior to joining the LBMA, she worked in bank finance and US corporate law at the law firms of White & Case and Norton Rose, and also acted as a monitor at the UN Commission on Human Rights in Geneva. She has an MSc in History of International Relations from the London School of Economics and a degree in English Literature from Kenyon College in Ohio.