MF Global appoints new chief operating officer

Karel Harbour has been promoted to chief operating officer for New York-based derivatives broker MF Global.

Harbour will remain in London, where he was most recently chief operating officer for the company's European business, and will report to Bernard Dan, the firm's chief executive.

The appointment, made on Monday, was part of a broader management reshuffle at the New York firm following heavy second-quarter losses of $8.2 million from exposure to Lehman Brothers.

Dan previously held the position of chief operating officer but took over from Kevin Davis as chief executive on October 29. Additionally, on October 31, Avram Kornberg was appointed as the new chief information officer.

See also: MF Global head steps down after Lehman losses
MF Global names COO for North America