LBMA is pleased to announce that Peter Zoellner will take over as Chair of the Board in October 2025, with his first Board Meeting as Chair taking place in December 2025. Peter’s appointment follows a formal selection process and reflects LBMA’s continued commitment to strong governance and transparency.
Since joining the LBMA Board in July 2024, Peter has contributed actively to shaping the Association’s strategy and governance. As Chair, he will now lead both the Board and Sub-Board Committee meetings, helping to guide LBMA’s strategic direction.
Peter brings extensive central banking and market experience to the LBMA Board. From 2013 - 2024 Peter served as a Member of the Executive Committee and Head of the Banking Department at the Bank for International Settlements (BIS) in Basel. Prior to that he served for 15 years as a member of the Governing Board and Executive Director for Financial Market Operations at the Central Bank of the Republic of Austria (OeNB) where he was responsible for reserves management, market operations and international financial relations.
A central part of Peter's role will be to continue to strengthen governance, ensuring that LBMA applies the same principles of transparency and continuous improvement to our own processes as we expect of others. This commitment to self-assessment and enhancement underscores our dedication to maintaining the highest standards.
"I consider it a great honour to be appointed Chair of LBMA which I have known and cooperated with for almost three decades. In my new role I am looking forward to working for a continued successful development of this independent precious metals’ authority aiming at ensuring a high level of integrity and transparency for the global precious metals markets," said Peter Zoellner.
LBMA would also like to take this opportunity to thank Paul Fisher for his outstanding leadership as Chair. Paul has played a pivotal role in strengthening LBMA’s strategy, governance and reputation, and his thoughtful stewardship will be greatly missed. In his time at LBMA, he oversaw the engagement of independent Non-Executive Directors (iNEDs) to the Board, and an array of improvements to the marketplace, such as the development of the Precious Metals Code, and the publication of London vault holdings data and trade reporting data. We are grateful that he will continue to support the transition in the coming months.
"It has been both a privilege and a pleasure to serve as Chairman for LBMA for the past nine years, as the organisation and the market have gone from strength to strength. As my term draws to a close, I am absolutely delighted to be able to hand on to such a capable and distinguished successor," said Paul Fisher, Chairman, LBMA.
About the LBMA Board and Sub-Board:
The LBMA Board meets quarterly to set our strategic and business vision and scrutinises LBMA's performance. The Board is supported by a number of sub-committees which advise on specific areas of expertise.
The LBMA Sub-Board was created to reassure and reinforce the independence of LBMA. It comprises of the LBMA independent Non-Executive Directors, and Chief Executive. Its purpose is to review matters arising in relation to incidents and enforcement of LBMA rules with regards to LBMA Members and Good Delivery List Refiners.