The thirty-seventh Annual General Meeting (AGM) of the London Bullion Market Association (LBMA) was held at 62 Threadneedle Street, London, EC2R 8HP and virtually at 15:00 BST on Wednesday, 2 July 2025.
Board Election Results
Prior to this year's AGM, nominations for the Market Making Member vacancies of the LBMA Board were duly received. A vote was undertaken as part of proceedings.
The elected Market Making Members are:
Raj Kumar
Head of Strategic Development
Morgan Stanley
Matt Slater
Global Head of Precious Metals Forwards & Physical Trading
UBS AG
Vincent Domien
Head of Metals Trading
HSBC
We would like to take this opportunity to offer our thanks to Judy Yi Qiu (Deputy General Manager, ICBC Standard Bank), a fellow nominee for the Market Making Member vacancy.
Paul Fisher Steps Down as Chairman
Paul Fisher (LBMA Chairman) gave his final AGM Strategic Report as he will be stepping down in Q4 this year after nine years at the helm. The appointment of our new Chair will be announced at the LBMA/LPPM Global Precious Metals Conference in Kyoto.
Martin Fraenkel Announced as New LBMA iNED
LBMA is pleased to announce that Martin Fraenkel (former LME NED) has accepted to join LBMA as an Independent Non-Executive Director (iNED) on September 1, 2025. Martin has over 30 years’ experience in global commodities, with senior roles at Rothschild & Co, JP Morgan, Dresdner Kleinwort, CME and S&P Global Platts - where he was President and CEO - as well as Chair of Pexapark AG and VAKT Global, and former NED of the LME and CRISIL.