MF Global Holdings has appointed Jon Corzine as chairman and CEO, effective immediately. Mr Corzine served as governor of the State of New Jersey during 2006 to 2010.
Mr Corzine will succeed Bernard Dan who resigned as CEO for personal reasons. However, Mr Dan will remain with the company through May 16, 2010, to facilitate the transition of duties to Mr Corzine. Alison Carnwath will be retiring as its chairman in August 2010.
Mr Corzine brings more than three decades of leadership and expertise to MF Global. He served in the US Senate from 2001 to 2006. Prior to entering public service, Mr Corzine was chairman and senior partner of Goldman Sachs, where he served for 24 years.
Mr Corzine said: “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. 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.”
Ms Carnwath said: “It has been a pleasure to serve as MF Global's chairman over the past three years. I appreciate the commitment and dedication of the board, senior management and employees at MF Global and believe Mr Corzine is now the right person to lead MF Global in its next phase of greater growth and profitability.”
About MF Global
MF Global Holdings Ltd. (NYSE:MF) is a leading provider of customized solutions in the global cash and derivatives markets. We offer execution and clearing services for exchange-traded and over-the-counter derivative products as well as for non-derivative foreign exchange products and securities in the cash market. MF Global operates on more than 70 exchanges in countries around the globe, providing access to some of the largest financial markets and is the leader by volume in many of these markets. Through delivering extensive product offerings and access across multiple markets and geographic regions, we focus on helping clients define and execute trading and hedging strategies and capitalize on market opportunities.
