CNBC reports that former New Jersey Governor and US Senator Jon Corzine has been appointed as chairman and CEO of MF Global Holdings (MF), effective immediately.
“MF Global is a firm with tremendous potential and excellent talent,” said Mr. Corzine. “I see a substantial opportunity for the firm to expand its leadership position in serving clients globally in cash and derivatives markets.”
Mr. Corzine is a graduate of the University of Illinois at Urbana-Champaign and holds a Master of Business Administration degree from the University of Chicago. Mr. Corzine also served in the United States Marine Corps Reserve from 1969 until 1975.
“MF Global Holdings Ltd. (NYSE: MF), is a leading broker offering customized solutions in global cash and derivatives markets. It provides 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 is uniquely diversified across products, trading markets, customers and regions. Its worldwide client base includes financial institutions, industrial groups, hedge funds and other asset managers as well as professional traders and private/retail clients. MF Global operates in 13 countries on more than 70 exchanges, providing access to some of the largest financial markets in the world and is the leader by volume on many of these markets.”
MF shares gained 15% in late trading Tuesday.