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.

Read Article Here

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s