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Dan’s reign at MF Global cut short by resignation; Corzine takes over
24 March 2010
In a move that startled the listed derivatives markets the world's largest futures broker, MF Global, announced that Jon Corzine would replace Bernie Dan as its CEO.
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[MF Global]
[Bernie Dan]
[Jon Corzine]
[Goldman Sachs]
[Kevin Davis]
[New Jersey]
[governor]
[Chicago Board of Trade]
[Chicago Mercantile Exchange]
Dan has “resigned from MF Global as CEO and as a director for personal reasons,” the company declared at about 3.30pm New York time on Tuesday March 23.
The move, which takes effect immediately, is surprising because Dan had only been in the post since October 2008. He had been appointed by MF Global with high hopes that he would restore its fortunes after a wheat trading scandal under the previous regime of long time CEO Kevin Davis.
Dan had joined the company as North American COO in June 2008, was promoted in September to president and COO and then became CEO when Davis resigned in October.
Dan is one of the most prominent figures in the US futures industry, having been CEO of the Chicago Board of Trade at the time when it merged with Chicago Mercantile Exchange. Before that, he had a long career with Cargill Investor...
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