LONDON and NEW YORK, Jan. 27, 2011 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced that it has named Harriet Hunnable as Managing Director, Metals Products. Hunnable, 44, will be responsible for developing and executing the company's global metals business strategy. She will be based in London and will report to Joe Raia, Managing Director, Energy and Metals Products.
"Harriet's deep market expertise and extensive client relationships make her an ideal candidate to lead our global metals business," said Raia. "CME Group operates the most liquid metals markets in the world, and having Harriet run this business from London underscores our commitment to globalizing our business and putting business owners in the regions where we see the greatest opportunities to continue growing our markets and client base."
Before joining CME Group, Hunnable gained more than 20 years of experience in global metals markets, most recently serving as Senior Manager at Macquarie Bank in London, where she was responsible for deal generation in the bank's commodities sector. Prior to working for Macquarie, she worked as a Business Development Manager for a division of Standard Bank. She also has served as Director, Precious Metals Sales, for UBS Warburg and as a Vice President for Merrill Lynch. She began her commodities career with NM Rothschild & Sons. She holds a bachelor's degree from Trinity College, Dublin.
CME Group metals volume averaged 316,000 contracts per day in 2010, up 40 percent from the prior-year period, while open interest reached roughly two million. The company also introduced a number of new metals products in 2010 including e-micro gold futures and iron ore swap futures.