Senior MF Global Holdings Ltd. executives still working at the bankrupt firm will not receive bonuses, the company's trustee told lawmakers.
Louis Freeh, the former Federal Bureau of Investigation director serving as trustee for the New York-based firm, committed to lawmakers that he would not award bonuses to current or former employees in the wake of reports that compensation packages for Chief Operating Officer Bradley Abelow, General Counsel Laurie Ferber and Chief Financial Officer Henri J. Steenkamp, were being prepared.
"It was never my intention" to pay out bonus money to executives from the firm, Freeh told members of the Senate Banking Committee at a hearing today. Freeh committed to lawmakers that he would not distribute bonus money to current or former MF Global employees.
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