MF Global Eyes Sale

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.


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