R.J. O’Brien and Associates (RJO), the Chicago-based futures commission merchants, says customer assets grew to more than $1.1 billion in 2004- a 40 per cent increase on 2003. RJO also collected more than $145 million in revenue in 2004 – a 30 percent increase over 2003, according to CEO Gerald F. Corcoran.
“Last year was a period of tremendous growth for R.J. O’Brien,” says Corcoran. “We’ve seen significant expansion in our retail, institutional and agri-business segments. In addition, our acquisition of Harmonic Investment Management is helping us meet a rapidly growing customer demand for alternative investment products.”
Harmonic, based in Memphis, Tennessee, provides management and advisory services of alternative investment products to institutional and private clients on a global basis. Its funds include Harmonic Overture, the Tempo Fx Fund, and the Sciens Fund of Hedge Funds.
During 2004, RJO also became a clearing member firm of Eurex AG, the futures exchange controlled by Deutsche Borse, and the firm plans to be a clearing member of the Euronext-Liffe markets in London by the second quarter of 2005.
RJO has grown dramatically in the Futures magazine rankings of the TOP 50 BROKERS, published annually – from 27th in 1999 when RJO had $215 million in customer assets to 19th in 2004. In five years, the number of Introducing Brokers that RJO serves has grown from 169 to 200.