Wed, 24/03/2010 - 13:02
MF Global, a broker offering customised solutions in global cash and derivatives markets, has appointed Jon S. Corzine as chairman and chief executive officer, effective immediately.
Alison J. Carnwath will be retiring from the board at its next shareholders’ meeting in August 2010, having fulfilled her three-year commitment to the company.
Bernard W. Dan has resigned from MF Global as chief executive and as a director for personal reasons. He will remain with the company through 16 May 2010 in an interim capacity to facilitate the smooth transition of duties to Corzine.
“MF Global is a firm with tremendous potential and excellent talent,” says Corzine. “I see a substantial opportunity for the firm to expand its leadership position in serving clients globally in cash and derivatives markets. I look forward to working with MF Global’s team to set a strategic path that will take the firm to new levels of growth, profitability and reputation.”
Corzine brings more than three decades of expertise to MF Global. He served as governor of the state of New Jersey from 2006 to 2010, and in the US Senate from 2001 to 2006.
Prior to entering public service, Corzine was chairman and senior partner of Goldman Sachs, where he served for 24 years. During his tenure, Corzine led Goldman’s fixed income division, worked to build the firm’s footprint in Asia and served as its chief financial officer. He became senior partner of Goldman Sachs in one of its most difficult periods in 1994.
“It has been a pleasure to serve as MF Global’s chairman over the past three years,” says Carnwath. “I appreciate the commitment and dedication of the board, senior management and employees at MF Global and believe Jon is now the right person to lead MF Global in its next phase of greater growth and profitability. I wish the firm, employees and shareholders continued success.”
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