MF Global Holdings CEO Corzine resigns

[News_Editor]

MF Global Holdings CEO Corzine resigns

2011-11-04 19:38:36 GMT+7 (ICT)

NEW YORK (BNO NEWS) -- Jon Corzine has resigned as chief executive of global financial derivatives broker MF Global, the former governor of New Jersey confirmed on Friday morning, days after the company filed for bankruptcy.

In a statement, Corzine said he voluntarily offered his resignation to the board of directors because he believes it is best for the firm and its stakeholders. MF Global said Corzine will not seek severance payments in connection with his resignation.

"This was a difficult decision," Corzine said. MF Global, which is being investigated by regulators and the Federal Bureau of Investigation (FBI) because hundreds of millions of dollars in customer money went missing, filed for bankruptcy on Monday.

"I feel great sadness for what has transpired at MF Global and the impact it has had on the firm's clients, employees and many others," Corzine said in his resignation statement on Friday. "I intend to continue to assist the Company and its Board in their efforts to respond to regulatory inquiries and issues related to the disposition of the firm's assets."

MF Global said Edward Goldberg, the lead director of the Board of Directors, and Bradley Abelow, the company's President and Chief Operating Officer, will continue in their current positions.

Before taking over MF Global, Corzine served as CEO of investment banking and securities firm Goldman Sachs. He is also known as the former U.S. Senator from New Jersey and the 54th Governor of New Jersey.

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