Commodities and listed derivatives broker MF Global Holdings Ltd. (MF) announced Monday that Chief Operating Officer Bradley Abelow will additionally assume the newly created position of president, effective immediately. The company also named Chief Accounting Officer and Controller Henri Steenkamp to be the chief financial officer, succeeding Randy MacDonald, who has recently been named the global head of the firm's retail operations.
"In order to successfully reach our goals, we must ensure that our vision is supported by the right mix of talent and leadership. I'm confident that Brad, Henri and Randy's extensive professional experience and proven management skills will continue to be instrumental in our firm's transition to an investment banking model," Chairman and CEO Jon Corzine said in a statement.
Abelow joined the company in September 2010 as chief operating officer. Prior to joining MF Global, Abelow was a founding partner of NewWorld Capital Group, a private equity firm investing in businesses active in environmental opportunities.
Earlier, he was chief of staff to Corzine during his tenure as governor of the state of New Jersey after serving as treasurer of the state of New Jersey. Abelow was previously a partner and managing director of The Goldman Sachs Group (GS), which he joined in 1989.
Meanwhile, Steenkamp joined MF Global in 2006 as vice president of external reporting and was promoted to chief accounting officer later in 2006. Prior to joining MF Global, He spent eight years with PricewaterhouseCoopers.
MacDonald, global head of retail, joined the company in April 2008 as chief financial officer. Before joining MF Global, Mr. MacDonald held a number of positions at TD Ameritrade Holding Corp. from 2000 to 2007.
Prior to joining TD Ameritrade, Mr. MacDonald was chief financial officer of Investment Technology Group, Inc., after serving as audit senior manager at Deloitte & Touche earlier in his career. He began his career at Ernst & Young performing financial audits.
MF closed Friday's regular trading session at $8.68, down $0.12 on a volume of 1.27 million shares, lower than the three-month average volume of 2.27 million shares.
For comments and feedback: editorial@rttnews.com