Former Refco Chairman and CEO Thomas Dittmer, a legendary commodities trader for three decades, plans to return to Wall Street with a new investment venture that will compete with his former employer, USA TODAY has learned.
Dittmer was in London on Tuesday to line up major bank financing for the initiative, which will court hedge funds and institutional investors, according to his partner, Bradley Reifler. Reifler said that Dittmer and he will launch their trading vehicle “imminently.”
“Tom is a great trader, and loves to build businesses and certainly is as aggressive as he’s ever been,” said Reifler, Dittmer’s nephew, “We know most everybody and think we are well positioned to attract (investors) and provide the platform that Refco intended but didn’t follow through with.”
The re-emergence of Dittmer, 63, comes as Refco’s regulated futures trading business is to be auctioned Wednesday in bankruptcy court.
