Saturday, 20 December 2014
Last updated 1 day ago
Dec 1 2010 | 9:29am ET
Jon Bass has been named global head of institutional sales at the futures broker MF Global Holdings. The appointment follows some bad news for the broker from Standard & Poor’s which last week downgraded MF Global’s long-term issuer credit rating to the lowest investment grade (from “BBB” to “BBB-“).
The ratings agency said it expected the firm to “continue to maintain adequate capital and liquidity and for it to only modestly increase its credit and market risk as it continues management’s planned evolution into a broker-dealer business model.”
On the subject of that evolution, Corzine recently told the Financial Times that MF Global was “encouraged but hardly satisfied with the progress to date.”
Hiring Bass, according to Corzine, reflects the company’s “strategic commitment to better segment our distribution activities, sharpen our client focus, and deliver our portfolio of products to institutional clients globally.”
Bass will work with MF Global Holdings’ various product lines, including commodities, equities, fixed income and foreign exchange. He comes to the broker from BTIG, where he was global head of fixed income. Prior to that, Bass headed US fixed income distribution for UBS and served on the UBS Investment Bank Board. Bass also worked almost 14 years in fixed income as a managing director at Salomon Brothers/Citigroup.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.