Streams

Ex-MF Global Exec Abruptly Leaves City Post

Thursday, December 08, 2011

The former chief executive of MF Global Holdings Ltd. has abruptly left his job at the New York City comptroller's office.

In a statement on Thursday, the city comptroller office said it has accepted the resignation of Kevin Davis, who started work in September as head of commodities in the comptroller's Bureau of Asset Management.

“We have accepted Mr. Davis’s resignation," the statement said. "Chief Investment Officer Larry Schloss will be assuming Davis’s responsibilities.”

Davis' hiring drew criticism from stakeholders in the city's pension system.

He was chosen because “he was he best applicant for the job,” Larry Schloss told WNYC in a statement last week. Schloss joined the comptroller’s office in 2010 as Deputy Comptroller for Pensions and Chief Investment Officer, and had prior to that served on MF Global’s board of directors.

“Kevin Davis has 26 years of experience in commodities and has run a global business,” Schloss said. “Kevin will help devise a long-term commodities strategy for the pension funds in order to further optimize the investment portfolio.”

MF Global was sued by four public pension systems outside New York. Davis left the company in 2008 after it lost more than 90 percent of its market value.

Davis left MF Global in October 2008, after the firm's market value dropped significantly.

Tags:

More in:

News, weather, Radiolab, Brian Lehrer and more.
Get the best of WNYC in your inbox, every morning.

Comments [1]

Don from Manhattan

Talk about conflict of interest. This crook Schloss hired his boy to help rob the city after he successfully robbed his shareholders. Schloss should be given 24 hrs to resign or be fired Monday forthwith.

Dec. 08 2011 11:55 AM

Leave a Comment

Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.

Sponsored

Latest Newscast

 

 

Support

WNYC is supported by the Charles H. Revson Foundation: Because a great city needs an informed and engaged public

Feeds

Supported by