Refco Chief Operating Officer Resigns

A month after its $583 million initial public offering, Refco(RFX Quote) is shaking up its ranks.

The derivatives brokerage announced Monday that Chief Operating Officer William Sexton will be leaving the firm, about a year after assuming the post. The firm gave little explanation for the decision other than to say that Sexton, who had been with the company since 1999, will "pursue other interests.''

Sexton's duties will partly be assumed by Jeffery Mester, who most recently was the chief executive of ETG, a stock brokerage. Mester will report to Sandy Maggio, the president and chief executive officer of Refco Securities. ...