NATION

Alan J. Brody has been named chairman and chief executive of Commodity Exchange Inc., the world’s largest metals futures market.

Brody, who has been Comex president and chief executive since 1981, will take over as chairman in mid-March when the term of current Chairman Irving Redel expires, the exchange said.

The board of governors and the members of Comex decided last June to create the post of a full-time salaried chairman, serving at the pleasure of the board without a specified term of office. Previously, Comex members elected a chairman from their ranks for a one-year term.