LME Asia chief Liz Milan steps down in latest HKEx reshuffle
SINGAPORE Aug 30 (Reuters) - Liz Milan, head of the London Metal Exchange's Asia business stepped down this week, Hong Kong Exchanges and Clearing (HKEx) confirmed on Friday, the latest casualty of a clean out by the exchange of former LME management.
Milan was appointed Head of Asia Commodities by HKEx in February. She leaves after a run of more than eight years at the LME, where she was an executive board member during the London exchange's historic $2.2 billion sale to the Hong Kong-based bourse last year.
"Liz has decided to leave the LME and HKEx to pursue other opportunities. We are currently finalising the details of her departure," a HKEx spokesman said in an e-mail reply to queries.
Milan is the fourth high profile departure from the LME since early June, which has stirred some metals market sources to question HKEx's commitment to its metals franchise.
The departures have come as the LME faces closer scrutiny by regulators over controversial warehousing practices that critics say have inflated prices to get metal. The practices have sparked mounting class action lawsuits in the United States.
CEO Martin Abbott was the first to leave and was replaced this week with former NYSE Liffe executive Garry Jones.
Jones, a 30-year veteran of exchanges and financial services, has limited experience in metals but is seen driving the exchange's expansion into other commodities and beyond.
Head of business development Chris Evans resigned at the start of August, while HKEx said this week that Diarmuid O'Hegarty, the LME's deputy chief executive, has resigned. (Additional reporting by Jo Mason in NEW YORK; Editing by Tom Hogue)
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