Michael Cosgrove Continues As Managing Director Overseeing Strategic Initiatives in Commodities and Energy
GFI Group Inc. (NASDAQ: "GFIG"), 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 GFIâs 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 firmâs strategic initiatives in the North American commodities and energy sectors.
âRichard 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 GFIâs North American commodities and energy business,â said Colin Heffron, GFI Group President. âRichard 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.â
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 Companyâs hybrid business strategy features experienced brokers supported by advanced technology offering both electronic and broker-assisted execution. In North America, GFI operates EnergyMatchÂ®, an online energy trading platform.
GFIâs 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.