R.J. O’Brien & Associates (RJO), the largest independent futures brokerage firm in the United States, announced today that the company is streamlining its management structure to further position itself for global expansion and future growth. The move, effective immediately, follows strong results for the six-month period ending June 30, with revenues up 33 percent over the same period last year, and average customer equity up 52 percent. Volume also continues to climb, up 18 percent compared to the first six months of 2010.
Under the new structure, certain executives will assume increased responsibilities, and the number of officers reporting directly to Gerald Corcoran, Chairman and Chief Executive Officer, will be reduced significantly.
Said Corcoran: “We’re very pleased that the foundation we have put in place has resulted in such an upward trend for the first half, particularly in this low interest rate environment. With the recent return of the O’Brien family as majority owners and the support of our Board in regard to our global growth strategy, it’s time to position ourselves with a streamlined management structure. This approach will make the best use of our talented, experienced management team, challenging them to build on and enhance our strategy.”
Reporting to Corcoran under the new structure will be Mary Ellen Scanlin, Executive Vice President, Corporate Development; Joseph Murphy, Executive Vice President and President of the Americas; Matthew Rees, Executive Vice President and Chief Customer Officer; Jamal Oulhadj, Executive Vice President and Chief Risk Officer; Tom Anderson, Executive Vice President and Chief Financial Officer; Eileen Timmins, Senior Vice President, Human Resources; and Donna Heidkamp, Senior Vice President and President, RJO Futures.
In the new structure, Murphy will expand his sales management efforts internationally as he assumes responsibility for the sales teams in Canada and Europe. He will continue to oversee New York Sales and the strategy supporting the firm’s over-the-counter and foreign exchange initiatives.
Rees will take on responsibility for the firm’s Introducing Broker Division, led by Katie Hanley, and the overall RJO Research strategy. He will continue to oversee all aspects of the client experience, from account management, to product design and Client Services.
All aspects of Risk, Operations and Technology will be under one umbrella, reporting to Oulhadj. Corcoran said this will promote the seamless integration between risk management, technology and operations.
The RJO Legal organization will report to Anderson, in addition to his current responsibilities as Chief Financial Officer of RJO Holdings.
Chief Operating Officer Karen Northup has also been promoted from Senior Vice President to Executive Vice President. She will manage the firm’s Global Trading and Clearing Operations across all business lines.
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