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Press Release - GFI Group Inc. (GFIG-NASDAQ) |
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The best opportunities are the fact that transparency will lead to a “flatter” world where we will be able to service a greater number of financial institutions and have unfettered access to clearinghouses. This is where the real opportunity lies. We are not going to be the “winners” in every single asset class, but we will certainly be amongst the strongest in energy, credit and financials. - Colin Heffron (GFIG) (Interview published April 30, 2010) |
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GFI Group Announces Senior Management Changes in Commodities and EnergyRichard Giles Appointed Managing Director -- Head of Commodities and Energy Brokerage, North America; Michael Cosgrove Continues as Managing Director Overseeing Strategic Initiatives in Commodities and EnergyNEW YORK, NY--(Marketwire - 07/12/10) - GFI Group Inc. (NASDAQ:GFIG -News), a leading provider of wholesale brokerage, electronic execution and trading support products for global financial markets, today announced changes to its senior management team. Richard Giles was appointed Managing Director and Head of Commodities and Energy Brokerage, North America. Mr. Giles will be based in GFI's New York office and takes over from Michael Cosgrove. Michael Cosgrove remains a Managing Director at GFI Group and will be responsible for directing the firm's strategic initiatives in the North American commodities and energy sectors. "Richard has been a very significant contributor to our success. His experience across asset classes combined with his strong management and financial skills will be of tremendous help in continuing the strong growth of GFI's North American commodities and energy business," said Colin Heffron, GFI Group President. "Richard is replacing Michael Cosgrove, who will now focus on strategic undertakings in the commodities and energy space. We wish to compliment Michael on his important contributions to the Company and wish him every success in executing new strategic initiatives for GFI." GFI and its subsidiaries in North America provide brokerage services in a wide range of energy & commodity products such as electricity, coal, natural gas, biofuels, refined and crude oil, freight derivatives, precious and base metals, emissions and property derivatives through their offices in New York, Englewood NJ (Starsupply) and Sugar Land (Amerex). The Company's hybrid business strategy features experienced brokers supported by advanced technology offering both electronic and broker-assisted execution. In North America, GFI operates EnergyMatch®, an online energy trading platform. GFI's energy and commodity brokerage operations are renowned for their excellence, winning No.1 Energy & Commodity Broker overall for 2010 in Energy Risk & Risk magazine's annual Commodity Rankings 2010. Background Information Richard Giles About GFI Group Inc.
www.GFIgroup.com Headquartered in New York, GFI was founded in 1987 and employs more than 1,700 people with additional offices in London, Paris, Hong Kong, Seoul, Tokyo, Singapore, Sydney, Cape Town, Santiago, Dubai, Dublin, Tel Aviv, Calgary, Englewood (NJ) and Sugar Land (TX). GFI Group Inc. provides services and products to over 2,400 institutional clients, including leading investment and commercial banks, corporations, insurance companies and hedge funds. Its brands include GFI(SM), GFInet®, CreditMatch®, GFI ForexMatch®, EnergyMatch®, FENICS®, Starsupply®, Amerex®, and Trayport®. Forward-looking statement Contact:
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