Michael Stockman
 |
|---|
| Michael Stockman | |
| Occupation | Former Chief Risk Officer |
|---|---|
| Employer | MF Global Holdings Ltd. |
| Location | New York |
Michael Stockman is the former chief risk officer for bankrupt broker-dealer MF Global Holdings Ltd. He joined the company after the previous chief risk officer, Michael Roseman, disagreed with other MF Global top executives concerning European debt positions.
Stockman testified before the House Committee on Financial Services on Feb. 2, 2012,[1] saying that he did not object to the European debt situation at MF Global until July 2011, just three months before the Oct. 31 collapse.[2] Stockman also said that he does not know the whereabouts of the missing customer money, estimated at $1.2 billion.[3][4]
Background[edit]
Stockman joined MF Global in January 2011. Prior to that, he was a chief risk officer at the American branch of UBS until 2008. He is a visiting scholar at Dartmouth College's Tuck School of Business. In 2008, Stockman spoke to the alumni magazine there regarding the financial crisis, saying that it was not to be blamed on a sole entity or individual, but rather on the combined decisions and missteps of mortgage originators, borrowers and rating agencies.[5]
Education[edit]
- Darmouth College, Tuck School of Business (1985)[6]
References[edit]
- ↑ Statement of Michael G. Stockman Before the United States House of Representatives Committee on Financial Services, Oversight and Investigations Subcommittee (PDF). U.S. House of Representatives.
- ↑ MF Global Risk Chief Once Saw Euro Bets as ‘Acceptable’. New York Times.
- ↑ MF Global Lowered European Risk in August, Stockman Says. Bloomberg.
- ↑ MF Global's Former Risk Officers Defend Their Tenures. New York Times.
- ↑ At MF Global, Two Other Falling Stars. New York Times.
- ↑ The 100-year flood: An alum's perspective on the subprime mortgage crisis (PDF). Tuck Today.