REFCO/Marathon

jondoe

Junior member
38 1
Nov. 24 (Bloomberg) -- Man Group Plc, the hedge fund manager that's buying Refco Inc.'s main futures assets, agreed to sell the bankrupt broker's European assets to Marathon Asset Management in New York because of an overlap with its own business.

Marathon, a hedge fund manager, is buying futures, foreign- exchange and other brokerage assets from Man Group's Man Financial, including about 2,000 customer accounts, Marathon said in an e- mailed statement today. The businesses employ 300 people, the statement said. The companies didn't disclose a price for the deal.

``Man took this decision because of the high level of client overlap with its own London operation,'' Man Financial said in a separate statement today.


Has anyone heard of Marathon?
 

PualoP

Well-known member
402 34
jondoe said:
Nov. 24 (Bloomberg) -- Man Group Plc, the hedge fund manager that's buying Refco Inc.'s main futures assets, agreed to sell the bankrupt broker's European assets to Marathon Asset Management in New York because of an overlap with its own business.

Marathon, a hedge fund manager, is buying futures, foreign- exchange and other brokerage assets from Man Group's Man Financial, including about 2,000 customer accounts, Marathon said in an e- mailed statement today. The businesses employ 300 people, the statement said. The companies didn't disclose a price for the deal.

``Man took this decision because of the high level of client overlap with its own London operation,'' Man Financial said in a separate statement today.


Has anyone heard of Marathon?
So just to be clear does this mean that Refco Trading Services is going to Marathon? Lots of talk at the moment about 'Refco' but no one has a clue as to what's going on with 'Refco Trading Services' as a seperate entity?
 

jondoe

Junior member
38 1
From what I have been told Marathon has bought Refco London and Refco Trading Services, I dont know if that means all of RTS' offices or just the London branch.
 

GGG

Junior member
13 0
They make a very good, down-to-earth impression from the website.