Joseph Murphy

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Joseph J. Murphy
Occupation Senior Vice President
Employer Ingalls & Snyder
Location New York, NY USA
LinkedIn Profile

Joseph Murphy is a veteran futures industry senior executive. He currently serves as a senior vice president of Ingalls & Snyder, a privately held investment management company in New York.

Previously, he was an executive vice president and president of Americas for R.J. O'Brien & Associates, LLC, a Chicago-based futures commission merchant. He was named to the position on November 4, 2008 and left in September of 2013.[1][2]

Before that, he was with Northwind Resources, an energy consultant, commodity merchant and dealer, and before that was president and CEO of Refco, LLC[3]

Background

At R.J. O'Brien, Murphy was responsible for marketing and business development of all business lines, including introducing brokers, commercial agricultural, institutional and RJO Futures.

Murphy started his financial career with Chase Manhattan Bank in 1983, where he attended the Chase Capital Markets Training Program. Initially, he was assigned the treasury area and over the years dealt with balance sheet, trading and distribution issues.

Later, he joined Chase Futures becoming vice president and manager of a sales desk selling exchange traded, OTC derivatives and cash products.[4]

In 1994, Murphy joined HSBC Futures as national sales manager for North America. He then went on to become the executive managing director in charge of North American futures as well as Chicago cash securities and OTC derivatives sales.

Murphy joined Refco around the time Thomas Dittmer left Refco in 1999.[5] Murphy's hiring and other management changes were seen by observers as Refco clean up the company's renegade image, particularly after Refco settled a $7 million rule violation case with the CFTC.[6][7]

During his tenure with Refco, the company acquired Lind-Waldock,[8] MacFutures[9] and LFG.

Murphy left Refco after the "revelation that the company had for years secreted hundreds of millions of dollars of uncollectible receivables with a related entity controlled by Phillip Bennett, the Company’s Chairman and Chief Executive Officer. This revelation caused the stunning collapse of the Company a mere two months after its August 10, 2005 initial public offering of common stock."[10]

In 2005, Murphy served as chairman of the Futures Industry Association.[11] He stepped down following the bankrupcy of Refco when asked by the Refco board to assume the presidency of Refco and Refco Capital Markets.[12][13]

In 2006, Murphy was honored as one of The Wall Street 50 by Irish American Magazine.[14]

Education

Murphy holds a bachelor of science from Providence College.

Registration

  • JOSEPH JAMES MURPHY - NFA ID 0214143

References

  1. RJO Continues Expansion Strategy; Futures Industry Veteran Joseph Murphy Joins Firm. RJ O'Brien via PR News.
  2. Joseph James Murphy. National Futures Association.
  3. EXECUTIVE EMPLOYMENT AND NON-COMPETITION AGREEMENT BY AND BETWEEN REFCO GROUP LTD., LLC AND JOSEPH MURPHY. Onecle Resources.
  4. Joseph J. Murphy. Swiss Futures & Options Association.
  5. Refco's Collapse Reveals Decades of Quarrels With Regulators. Bloomberg.
  6. Refco and the IPO Motive. The Street.com.
  7. Following Refco's Bouncing Debt. Business Week.
  8. Refco Completes Acquisition of Futures Broker Lind-Waldock. PR Newswire.
  9. Refco Acquires MacFutures. PR Newswire.
  10. Refco Securities Litigation. RefcoSecuritiesLitigation.com.
  11. Joseph Murphy elected chairman of FIA. All Business.
  12. FIA Chairman Resigns. Futures Industry Association.
  13. Refco CEO forced into leave of absense amid probe. eFinancial News.
  14. The Wall Street 50. Irishabroad.com.