The commodities and listed derivatives firm under the guise of former New Jersey Governor Jon Corzine said today that it has taken steps to expanding its capital markets and institutional sales teams with the firm’s recent slew of new hires.
Corzine, chairman and CEO for MF Global Holdings revealed Tuesday that the New York-based firm is “hiring experienced talent and reallocating resources to areas of opportunity that will help advance the firm’s transformation into a leading commodities and capital markets investment bank.”
The “strongest opportunities,” according to Jon Bass, global head of institutional sales, are “where there are compelling competitive gaps, growing economies and expanding markets, and businesses that represent substantial potential to differentiate [its] offering.”
Previously, in December, Bass was brought on to assume his newly created role to “expand [the firm’s] relationships with top institutional clientele, such as asset managers, hedge funds, corporations, broker-dealers and financial institutions.”
With this goal in mind, Bass indicated in the May 3 press release that the firm is “upgrading” its “processes, people and global footprint to capture that opportunity.”
Process changes included the realignment of its sales and distribution system that will allow it to establish a “framework to coordinate and leverage relationship and opportunities with clients.” With this idea, the firm said that it has created the Client Management Group to “institutionalize the firm’s most important client relationships” and “efficiently deliver its broad-based portfolio of products and services.”
Additionally, the MBS and ABS sales team will now be co-headed by Evan Malik and Phil Hermann. Both were founding partners of Braver Stern’s mortgage business, the release said, while noting that Richard Onkey has linked up with MF Global’s MBS sales team.
Furthermore, David Pinn, Christopher LeVine, Caesar Silvestro and Fred Allen have been signed to assist with the credit sales team. Nadia Elhosh will help with European high-yield and distressed debt sales in London, with Raphael Ramos joining the institutional fixed-income sales team with a specific focus on the French region.
Also, Shay Caherly has been hired as the head of commodities derivatives trading, with Christopher Wright, Charles Daly and Christopher Chiarilli joining the commodities derivative trading desk. Alternately, Edward Boxshall, a energy futures broker, and Gareth Clark, a metals broker, will both be based in London.
And lastly, within equity, Joseph Gahtan was brought on to manage equity derivative sales, and Peter Wells will head equity trading for the Asia Pacific region. Also, Michael Muller links up to manage emerging markets sales, the release stated.