September 2, 2010 / 3:27 PM / 7 years ago

UPDATE 2-Grains analyst Rich Feltes moves to RJ O'Brien

* Feltes to join RJ O‘Brien as VP of research Sept. 30

* Feltes was director of commodity research at MF Global (Updates, adds comments from Feltes, RJ O‘Brien CEO)

By Christine Stebbins

CHICAGO, Sept 2 (Reuters) - RJ O‘Brien, the largest independent U.S. brokerage, announced on Thursday that top grains analyst Rich Feltes will join the firm as vice president of research beginning Sept. 30.

Feltes, 61, who served as senior vice president and director of commodity research at MF Global MF.N, the world’s largest futures retail broker, left that company this week.

“I am looking forward to joining RJ O‘Brien. At this time it’s a better fit for me,” Feltes told Reuters.

“Rich’s vast experience and interesting commentary has earned him a stellar reputation in commercial, IB and international circles alike, and his research will be a valuable addition,” RJ O‘Brien CEO Gerry Corcoran said in a statement.

Feltes is a well-respected U.S. grains analyst with more than 35 years of experience in grain futures and cash markets, including 11 years with Continental Grain Co.

He was with MF Global since July 2007 after joining its predecessor firm in 2005. At MF he started the firm’s first in-house commodity research department.

Before then, Feltes directed commodity research at Refco for 21 years. MF Global, formerly Man Financial, bought Refco’s commodity futures business following the U.S. financial services group’s collapse in late 2005.

Chicago-based RJ O‘Brien has more than 300 introducing brokers, making it the world’s largest clearer of IBs. (Reporting by Christine Stebbins; editing by Jim Marshall)

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