New York July 20, 2009. – GFI Group (Nasdaq: “GFIG”) has created a new European “Special Situations Group” (SSG) to focus on agency execution and trading strategies in the equity markets and the opportunities arising from European M&A, and other relative value situations. The focus of the group’s work will be on event driven situations that include but are not limited to pre and post announced M&A, spin offs, cross capital structure, share class, stubs and holding company transactions.
The new team headed by Richard Royden is based in London and includes Bo Nordberg and Dan Oakes.
The combination of GFI Group’s significant position in the single name CDS market and its strength in the power, energy, freight, property and commodities businesses and SSG’s equity market knowledge and banking relationships creates an opportunity for cross asset class investment analysis as well as impartial and unrestricted M&A and restructuring research. GFI Group provides an agency execution platform for equities, OTC and listed equity derivatives unaffected by the conflicts of interests associated with combining investment banking, corporate advisory, and proprietary trading with an agency broker.
“The incorporation of this seasoned team led by Richard Royden adds yet more depth to our equities offering” said James Martin, Managing Director London. “Our clients will benefit from research, sales and trading in European event driven situations free from any conflict of interest” he added.
Richard Royden joins from JP Morgan and has 20 years finance experience in equities, derivatives and investment banking that includes running HSBC’s equity derivatives and relative value businesses in New York, and more recently he headed the European merger arbitrage group at UBS as well as co-founded UBS’ Alternative Capital Group in 2006 that provided investment banking coverage for hedge funds.
Dan Oakes joins from JP Morgan with 10 years of finance experience in equities. Dan worked on the Risk Arbitrage and Relative Value desk at Bear Stearns prior to joining JPM.
Bo Nordberg joins from JP Morgan and has 8 years finance experience in equities having been with Deutsche Bank’s Special & Relative Value Situations research desk prior to joining JP Morgan.
The new team which will be working within the Christopher Street Capital group, is an important investment to the Group’s global equities offering serving clients from New York, London, Dublin, Hong Kong, Paris and Tokyo.
About GFI Group Inc. www.GFIgroup.com
GFI Group Inc. (http://www.GFIgroup.com) is a leading provider of wholesale brokerage, electronic execution and trading support products for global financial markets. GFI Group Inc. provides brokerage services, market data, trading platform and analytics software products to institutional clients in markets for a range of credit, financial, equity and commodity instruments.
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, Tel Aviv, Calgary, Englewood (NJ) and Sugar Land (TX). GFI provides services and products to over 2,100 institutional clients, including leading investment and commercial banks, corporations, insurance companies and hedge funds. Its brands include GFI™, GFInet®, CreditMatch® (R), GFI ForexMatch® (R), EnergyMatch®, FENICS®, Starsupply®, Amerex®, and Trayport®.
Certain matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “might,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: acquisitions by us of businesses or technologies; economic, political and market factors affecting trading volumes, securities prices or demand for the Company’s brokerage services; competition from current and new competitors; the Company’s ability to attract and retain key personnel, including highly-qualified brokerage personnel; the Company’s ability to identify and develop new products and markets; changes in laws and regulations governing the Company’s business and operations or permissible activities; the Company’s ability to manage its international operations; financial difficulties experienced by the Company’s customers or key participants in the markets in which the Company focuses its brokerage services; the Company’s ability to keep up with technological changes; and uncertainties relating to litigation. Further information about factors that could affect the Company’s financial and other results is included in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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GFI Group Inc.
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Tel: (212) 968 2964
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