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David Hardy quits MF Global

02 May 2008  |  6769 views  |  0 David Hardy - ex LCH.Clearnet CEO, now at Man. Advisor to CMS

David Hardy - the former head of LCH.Clearnet - has stepped down from his position of head of strategic market development at commodity broker MF Global.

MF Global has confirmed that Guy Simpkin, who worked in strategic market development, has also left the company. Simpkin previously worked under Hardy at LCH.Clearnet.

Hardy joined the brokerage in February last year just prior to its spin-off from Man Group. An MF Global spokeswoman told Finextra that Hardy has left to "pursue other opportunities" and that he will not be replaced at the company.

While at MF Global Hardy was involved in Rainbow, the pan-European financial derivatives exchange being set up by investment banks to compete with the region's established markets.

Hardy joined MF Global after a 19 year tenure at LCH.Clearnet. He quit the European clearing house in July 2006 amid criticism over the performance of the company. His departure followed a bungled IT integration project that forced the clearer to write off EUR47.8 million in capitalised technology costs.

In March last year Hardy was also recruited as an advisor by troubled market data technology vendor CMS WebView to provide strategic advice and practical support. However CMS was placed under voluntary liquidation in July before being de-listed from the LSE in January 2008.

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