Tuesday, November 1, 2011

Jon Corzine, CEO MF Global, Short Biography

Jon Corzine was born in 1947 and grew up on a small farm in central Illinois. After graduating from the University of Illinois in 1969 and earning an MBA from the University of Chicago in 1973, he moved to Columbus, Ohio to work in banking.

In 1975, Corzine moved to New Jersey and took a job as a securities trader at Goldman Sachs in New York. In 1980 he became a partner at Goldman. Rising rapidly through the ranks, he became chairman and CEO of Goldman Sachs in 1994.

As CEO, Jon Corzine transformed Goldman Sachs from a private partnership to a public company. The IPO of Goldman stock created a huge windfall for the partners, including Corzine. Jon Corzine's current personal wealth is estimated at around $600 million.

Corzine turned his attention to politics in 1999 and won election as a U.S. Senator from New Jersey in 2000.

On 23rd March 2010, Corzine became chairman and CEO of MF Global, a leading financial futures and derivatives brokerage firm.

On 30th October 2011 MF Global files for bankruptcy after a possible deal to sell out the company fell apart.

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