MF Global is nearing the end of a nine-month internal restructuring that began in the wake of a multi-million dollar trading scandal last year, according to the head of the US derivative broker’s North American business, who confirmed the group was continuing to hire in tandem with improving performance.

MF Global has hired 29 employees for its fixed-income and institutional sales teams since April, including 11 from Swiss bank UBS, and Tom Harte, managing director of North America at the firm, told Financial News that the opportunity to hire was "caused in part by the increasing convergence of the derivatives and cash securities markets and dislocation in the banking sector".