MF Global's Largest Individual Shareholder Wasn't Jon Corzine — It's This Guy

Randy MacDonald MF Global

As news of MF Global’s bankruptcy filing sets in, the numbers are coming out on who the true losers are.

And it’s not just CEO Jon Corzine, who has been everyone’s favourite pinata out of this whole debacle.

One loser is the private equity firm J.C. Flowers. The figure is already out for them – the company may lose $48.7 million in its MF Global stakes – that trickles down to to affect the firm’s investors the most.

As for individual shareholders who may get shafted – MF Global executive John Randy MacDonald could be holding the dunce cap.

MacDonald is the global head of retail for MF Global, and according to Bloomberg data, he held the most MF Global shares for an individual – owning about 488,426 as of June 10, 2011. That’s more than Corzine’s 441,960 shares as of August 18, 2011. Sadly, that might also make him the biggest individual loser in the worst possible case.

He was certainly winning just a year ago – according to an SEC filing, his fiscal year 2011 compensation as chief financial officer of MF Global was around $4 million, that included a $1.25 million bonus.

MacDonald started in his current position at MF Global just this year – he joined the firm in 2008 and was CFO for three years. In an interview with CFO.com, MacDonald revealed that he was attracted to the position because he wanted to work in a partnership with the CFO, and they offered him the challenge of refinancing the company’s $1.4 billion in bridge loans back then.

Before MF Global, MacDonald was at TD Ameritrade for seven years, and held various executive positions. His resume also includes work experience at Ernst & Young and Saloman Brothers

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