Friday, March 26, 2010

Former-Goldman Sachs chairman to become CEO of MF Global Holdings

25 March 2010

Jon Corzine, former chairman at Goldman Sachs, has been appointed as the new chief executive officer (CEO) at MF Global Holdings with immediate effect.

He was employed at the investment bank for 24 years, working as chief financial officer, chairman and helping to expand the organisation’s presence in Asia.

Mr Corzine has also worked in the public sector, having served as New Jersey governor between 2006 and 2010 as well as a member of the US Senate from 2001 until 2006.

Previous post holder Bernard W Dan will remain with the company until May to ensure a smooth transition.

Mr Corzine said: “I see a substantial opportunity for the firm to expand its leadership position in serving clients globally in cash and derivatives markets.”

“We will continue to provide the highest level of service to our clients, create new opportunities for employees and grow shareholder value. Profitability and responsibility must go hand in hand with growing our franchise.”

MF Global forecast revenues for the fourth fiscal quarter ending March 31st to be between $235 million and $245 million.

Mr Dan explained that “personal reasons” were behind his decision to leave the company.

By Jim Ottewill

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