NEW YORK — Julian Verden has been named chief executive officer of steel trader Stemcor Holdings Ltd. effective Jan. 1.

Verden replaces Ralph Oppenheimer as chair of the executive committee and will be responsible for all day-to-day matters, including trading positions and large deals, London-based Stemcor said.

Oppenheimer will remain as an active chairman on the board.

Verden has three decades of experience in the steel industry, having served as chairman of the International Steel Trade Association, according to Stemcor.

Since being named Stemcor’s group managing director in 2000, Verden has been responsible for distribution, stockholding and service center business.