NEW YORK, July 31, 2008 (PRIME NEWSWIRE) -- GFI Group Inc. (Nasdaq:GFIG), an inter-dealer brokerage, market data, trading platform and analytical software provider for global cash and derivative markets, announced today the appointment of Michael Cosgrove as head of GFI's energy operations in North America. Mr. Cosgrove will be reporting to Colin Heffron, President of GFI.
Mr. Cosgrove has been with Amerex for over 20 years and has served as its Chief Executive Officer since 2003. Mr. Cosgrove has assisted clients in both emerging and established energy markets around the world with the development of innovative risk management and trading programs. Since GFI's acquisition of Amerex in 2006, Mr. Cosgrove has served as President of GFI's Amerex division. In his new position, Mr. Cosgrove will lead all of GFI's energy business in North America, including its Amerex and Starsupply divisions.
Mr. Heffron said, "Michael Cosgrove is one of the true visionaries in the development of global energy markets. I am delighted that he has agreed to take on this leadership role at GFI as we are rolling out our EnergyMatch(r) trading platform amidst rapid change in the North American energy markets. I am certain that under Michael Cosgrove's management, GFI will achieve even greater success as one of the world's most technology-enabled brokers of OTC energy products.
About GFI Group Inc.
GFI Group Inc. (http://www.GFIgroup.com) is a leading inter-dealer broker specializing in over-the-counter derivatives products and related securities. GFI Group Inc. provides brokerage services, market data, trading platform and analytics software products to institutional clients in markets for a range of credit, financial, equity and commodity instruments.
Headquartered in New York, GFI was founded in 1987 and employs more than 1,700 people with additional offices in London, Paris, Hong Kong, Seoul, Tokyo, Singapore, Sydney, Cape Town, Dubai, Tel Aviv, Calgary, Englewood (NJ) and Sugar Land (TX). GFI provides services and products to over 2,200 institutional clients, including leading investment and commercial banks, corporations, insurance companies and hedge funds. Its brands include GFI(tm), GFInet(r), CreditMatch(r), GFI ForexMatch(tm), EnergyMatch(r), FENICS(r), Starsupply(r), Amerex(r), and Trayport(r).
Forward-looking statements
Certain matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "might," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: acquisitions by us of businesses or technologies; economic, political and market factors affecting trading volumes, securities prices or demand for the Company's brokerage services; competition from current and new competitors; the Company's ability to attract and retain key personnel, including highly-qualified brokerage personnel; the Company's ability to identify and develop new products and markets; changes in laws and regulations governing the Company's business and operations or permissible activities; the Company's ability to manage its international operations; financial difficulties experienced by the Company's customers or key participants in the markets in which the Company focuses its brokerage services; the Company's ability to keep up with technological changes; and uncertainties relating to litigation. Further information about factors that could affect the Company's financial and other results is included in the Company's filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.