MF Global Holdings Ltd. (NYSE: MF), a leading broker offering customized solutions in global cash, derivatives and related markets, today announced that Bradley Abelow has been named global chief operating officer, effective immediately.
In this role, Mr. Abelow will oversee the day-to-day execution of MF Global's strategy and assume direct responsibility for risk, operations, client services, human resources, information technology, procurement and real estate activities for all MF Global entities in a dozen countries around the world. He will serve as a member of the senior management team and report to Jon S. Corzine, MF Global's chairman and chief executive officer.
Mr. Abelow will succeed Karel Harbour. Mr. Harbour will assume the role of director of operations and continue to serve as interim managing director of Asia Pacific until his retirement, which is expected to occur at the end of the year.
"As we work to deliver a stronger value proposition to our clients, we must have the right mix of talent, skills and experience in place," said Mr. Corzine. "I personally have seen Brad's leadership skills and appreciate his knowledge and expertise around core functions in technology and operations. I am confident that he will quickly contribute to our efforts to make MF Global a more efficient and effective enterprise."
"MF Global is a firm with tremendous potential," said Mr. Abelow. "Its impressive international platform and extensive market access will be critical building blocks for the firm's success. I am excited about the opportunity to apply my experience in both the private and public sectors to help build a more scalable and flexible infrastructure, maximizing the value we create for clients and shareholders."
Most recently, Mr. Abelow was a founding partner of NewWorld Capital Group, a private equity firm investing in the environmental sector. Prior to that, Mr. Abelow served as chief of staff during Mr. Corzine's tenure as Governor of New Jersey. As the governor's top advisor, he was the chief liaison to the state legislature and oversaw all of the state of New Jersey's operations. Mr. Abelow previously served as New Jersey State Treasurer, overseeing the New Jersey Department of the Treasury and its approximately 4,000 employees.
In his career on Wall Street, Mr. Abelow was a partner and managing director of The Goldman Sachs Group. He held a variety of senior leadership positions, including managing Goldman's operations division, where he led the global processing and corporate services functions of the firm. Prior to that, Mr. Abelow was responsible for the company's operations, technology, risk and finance functions in Asia, based in Hong Kong.