Flowers defends MF Global as a ‘prudently run’ securities firm, despite Chapter 11 filing
JC Flowers head says reliance on short-term funding is a weakness of whole securities industry – not just MF Global. He adds a worsening eurozone crisis could lead to investment opportunities in troubled banks
MF Global was run on a prudent basis, and in general the securities industry is more prudent than it was before the collapse of Lehman Brothers in 2008, according to Chris Flowers, a shareholder in MF Global and private equity investor, speaking to Asia Risk at the AVCJ conference in Hong Kong today.
Flowers, who founded his private equity firm, JC Flowers Group, in 1998 following a 20-year career at Goldman Sachs, also gave a keynote address at the AVCJ conference in which he described the
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