Refco shuffles management, settles consultant cash claim

Refco Group has announced several changes in management following the recent acquisition of Cargill Investor Services (see FO Week Vol 10 No 26).

Current COO of Refco Group's global derivatives operations Stephen Grady is to assume responsibility for the management of Refco's physical infrastructure and operations in Chicago.

A source close to the firm suggested that Grady's new role was not likely to impact significantly on the day-to-day running of Refco, telling FO Week, "It is less a case of taking on a new role, but more one of receiving recognition for what he is...