MF Global, the US equities broker which is set to complete its strategic review by the end of the year, has begun looking for a new chief executive to run its European business after the departure of its regional head after 18 months in the position.

James Rowsell, who had been responsible for growing MF Global's European business and had oversight of its oversight of its London, Paris, Amsterdam and Geneva offices, left in October after 18 months in the job. He was promoted to managing director of Europe from global head of equities in June 2009.