Thursday, 28 May 2015
Last updated 1 hour ago
Oct 27 2011 | 6:42am ET
Just four years after spinning off from hedge fund giant the Man Group, futures brokerage MF Global Holdings hired a pair of investment banks to consider selling itself.
The New York-based firm's board yesterday hired Evercore Partners and another, unidentified adviser, The Wall Street Journal reports. The move comes just a year-and-a-half after MF Global named former Goldman Sachs CEO and New Jersey Gov. Jon Corzine its CEO.
Corzine has pushed to transform MF into a proprietary trading house. Investors have been less-than-impressed with the results, with the firm's stock price plummeting and its bond rating following due in part to its $6.3 billion in exposure to European sovereign debt, trades overseen by Corzine.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…