Following its victory in the bidding war for Refco's futures
business (see FO Week Vol 10 No 45), Man Group has
acknowledged that the fallen brokerage has already lost the
majority of its institutional clients.
Speaking at the presentation of Man's half year results,
deputy chief executive and finance director Peter Clarke
acknowledged that Refco had lost the "bulk" of its
institutional client base between the emergence of the scandal
at the firm last month and Man's bid being accepted.
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