The late John Hanemann was an independent floor trader trader at the COMEX who became the first chairman of the exchange with pit trading experience. He was President of Hanemann Trading Co. in New York, a futures and options execution service on the trading floor of the New York Mercantile Exchange.
In 1980 Hanemann formed his own firm, the Prestige Metal Trading Company.
At age 44, Hanemann became the first member-elected chairman of COMEX in 1988. He was the first COMEX chairman with pit trading experience. However, he resigned the chairmanship roughly a year later after COMEX members had voted down a proposal to pay the chairman $100K to $250K per year. He was succeeded as chairman by Robert E. Fink.
Hanemann's resignation came two days after a new president and chief executive had been appointed to the exchange and a day after the president of the New York Mercantile Exchange resigned. Arnold Staloff was appointed president and chief executive of COMEX and Rosemary McFadden resigned as president of the NYMEX in a flurry of executive moves in the New York futures exchange community.
He was an avid and well-known sport fisherman on the New Jersey Shore.
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