Corzine resigns as head of troubled MF Global

Posted: November 4, 2011 in US News

USA Today
November 4, 2011

NEW YORK — Jon Corzine abruptly resigned as chairman and chief executive of now-bankrupt MF Global Friday, four days after the brokerage collapsed in Wall Street’s largest failures over his losing bet on European sovereign debt.

The brokerage announced that Corzine, a former U.S. senator and ex-New Jersey governor who once headed Goldman Sachs, “will not seek” severance payments totaling an estimated $12 million.

Edward Goldberg, the lead director of MF Global’s board, and Bradley Abelow, the brokerage’s president and chief operating officer, will continue in their current posts, the company said.

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