KANSAS CITY, Mo., Aug. 11, 2009 (GLOBE NEWSWIRE) -- FCStone Group, Inc. (Nasdaq:FCSX), a commodity risk management firm, today announced the appointment of Xuong Nguyen to the position of Executive Vice President and COO of Clearing Operations for FCStone, LLC, the company's wholly owned subsidiary and its Futures Commission Merchant (FCM). Nguyen joins FCStone from MF Global, where he was the Chief Operating Officer of North America, managing middle and back office operations for futures, equities, fixed income, FX, and OTC derivatives. He will oversee FCStone's clearing and execution services segment and will report directly to Pete Anderson, FCStone's President and Chief Executive Officer.
"With his strong leadership experience in exchange and OTC trading platforms, combined with a wealth of knowledge of in operational process controls and reporting systems, Xuong is a perfect fit for FCStone," said Pete Anderson. "Xuong makes an excellent addition to our management team and I look forward to his insights and contributions."
Mr. Nguyen was named COO at MF Global in October 2008, having spent five years at MF Global's FCM, where he reengineered process controls systems and implemented reporting and reconciliation systems. Prior to MF Global, he gained experience in trading operations, controls, and audit, with positions most recently at Bank of America, Bank One, ABN AMRO, and the Chicago Mercantile Exchange.
About FCStone Group, Inc.
FCStone Group, Inc., along with its affiliates, is an integrated commodity risk management company providing risk management consulting and transaction execution services to commercial commodity intermediaries, end-users and producers. The firm assists primarily middle market customers in optimizing their profit margins and mitigating exposure to commodity price risk. In addition to risk management consulting services, FCStone, LLC, operates one of the leading independent clearing and execution platforms for exchange-traded futures and options contracts. FCStone Group, Inc. serves more than 8,000 customers and in the 12 months ended May 31, 2009, executed 73.7 million derivative contracts in the exchange-traded and over-the-counter markets. The FCStone Group companies work in all the major commodity areas including agriculture, energy, renewable fuels, foods, forestry, cotton and textile, dairy and currency exchange. Headquartered in the Midwest, it has offices located throughout the world and is a clearing member of all major North American Futures exchanges. FCStone Group, Inc. trades on the NASDAQ Global Select Market under the symbol "FCSX."
Forward Looking Statements
This press release may include forward-looking statements regarding, among other things, our plans, strategies and prospects, both business and financial. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. The words "believe," "expect," "anticipate," "should," "plan," "will," "may," "could," "intend," "estimate," "predict," "potential," "continue" or the negative of these terms and similar expressions, as they relate to FCStone Group, Inc., are intended to identify forward-looking statements.