Chubb Buys Hot-Site Vendor CTF, After MFS Telecom Decamps
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A subsidiary of insurance giant Chubb & Son Inc. has acquired Contingency Trading Facility Inc. (CTF), the fledgling trading room disaster-recovery facility provider. The New York-based CTF sought a deep-pocketed partner to take the place of its founding partner, MFS Telecom Inc., which quit the venture Jan. 18.
Without MFS Telecom, CTF found itself lacking the financial wherewithal to secure its lease at the Metrotech Center in Brooklyn, where its facility is to be built.
CTF eventually found the
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