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.
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.
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. 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.
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."
In 2005, Murphy served as chairman of the Futures Industry Association. He stepped down following the bankrupcy of Refco when asked by the Refco board to assume the presidency of Refco and Refco Capital Markets.
In 2006, Murphy was honored as one of The Wall Street 50 by Irish American Magazine.
Murphy holds a bachelor of science from Providence College.
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