The London Bullion Market Association said Paul Fisher, a Bank of England veteran who sat on the Monetary Policy Committee for five years, will replace Grant Angwin as its chairman.

Fisher, who later this month will retire from the central bank after a 26-year career, will assume the role on Sept. 5, the LBMA said in an e-mailed statement.

“The Bank of England and LBMA have a close relationship and have always done,” Norman said by phone. “London remains the global epicenter for trading gold.”