Effective immediately, Colin Heffron will take on responsibility for the overall management of GFI's business and continue to serve as a member of the Board of Directors.

Michael Gooch will remain Executive Chairman of the Board focusing on the broad strategic direction of the Company.

Michael Gooch, GFI Group Executive Chairman said: "In his 25 years with the company, Colin has succeeded in every role and executive capacity he has undertaken and has demonstrated extraordinary leadership as Group President. His appointment as CEO reflects the breadth of his responsibilities at GFI and stature within the industry."

Mr. Heffron joined GFI Group in 1988 a broker of foreign currency options in New York, before moving to London to assist in the establishment of GFI Group's London office. Mr. Heffron later headed the Group's currency options business and from 1994 until 1997, ran the day-today operations of all GFI's European businesses. From 1998 until February 2004, he was head of all operations in Europe and joint-head of Asian operations. In February 2004, Mr. Heffron was appointed President.

Colin Heffron has been a member of GFI's Board of Directors since 2001, and is chairman of the Board of Directors of Trayport, a wholly-owned subsidiary of GFI. Additionally, Colin Heffron co-chairs the Board of Directors of the Bob Woodruff Foundation, a charity devoted to injured American service members, veterans and their families, and sits on the Board of Directors of BondDesk, a leading fixed income technology platform.

Mr. Heffron graduated with a bachelor's degree in Government from St. Lawrence University in New York.