London Metal Exchange has announced the election of Mr Jim Land from AMT as a new shareholder representative director of LME Holdings Limited.

He won 9 out of 11 votes cast, while the other candidates Mr Brian Smith of Barclays Capital and Mr Tim Jones of Royal Bank of Scotland each gained 1 vote.

Barclays' Mr Smith has taken the position of a shareholder representative director of the London Metal Exchange Limited.

Mr Smith and RBS' Mr Jones had tied in the ballot for this position, gaining 6 votes each, but Mr Jones has said he will not participate in a second ballot.