Refco Inc. announced the following changes to the management team of Refco Group, Ltd., LLC, Refco Inc.’s wholly-owned subsidiary:
Stephen J. Grady, a 23-year veteran of Refco and currently Chief Operating Officer of Refco Group’s global derivatives operations, is to assume the additional responsibility of managing Refco’s substantial physical infrastructure and operations in Chicago. These operations have been further expanded following the completion of Refco’s acquisition of Cargill Investor Services on August 31, 2005. Grady has relocated from New York to Chicago to assume his new duties. Grady will continue to report to Joseph Murphy, President and CEO of Refco, LLC and head of Refco’s global derivatives businesses.
Jeffrey Mester joined Refco as Chief Operating Officer of Refco Securities, LLC, the wholly-owned broker-dealer subsidiary of Refco Inc. Mester has had extensive experience in the securities industry, including operating as a specialist on the American Stock Exchange and as the Chief Operating Officer and, later, Chief Executive of ETG, an equity brokerage company. Mr. Mester will oversee the organizational, operational and compliance functions of the broker-dealer, and will have responsibility for monitoring operating performance. Mester will report to Sandy Maggio, President and CEO of Refco Securities, LLC.
William Sexton, currently Executive Vice President and Chief Operating Officer of Refco Inc. and Refco Group Ltd., LLC, will be leaving the company in mid-October to pursue other interests.