In July we appointed Isabelle Strauss-Kahn, formerly of the World Bank and the Banque de France (BDF), as our third Independent Non-Executive Director. She brings with her a wealth of experience from the central banking sector and will serve to enhance the oversight of and the communication with Sub-Committees and Working Groups.

At the recent AGM, LBMA Members approved a number of changes to LBMA’s Articles of Association, including changes to the membership structure (see Membership section on page 20 for further details), removing conflicts of interest for Board members and allowing LBMA to host virtual AGMs in the future.

These changes introduce greater transparency, stronger governance and align LBMA with industry best practice. It will be necessary to reflect these changes by updating the Member Rulebook. The Rulebook will also be amended to reflect any feedback from Members arising from the recent consultation