Stoichiometric and catalytic chemical transformations may be carried out in solution using novel fluorous multiphase systems (FMS). The term "fluorous" is defined as a carbon-fluorine bond rich organic molecule which is generated by replacing hydrogen atoms bonded to carbon atoms with fluorine. The novel complexes suitable for use as fluorous catalysts and reagents in the present invention contain sufficient number of fluorous moieties to render them preferentially soluble in the appropriate fluorous solvent without impairing the ability of the catalyst or reagent to be effective or participate in the corresponding reaction. Thus, a variety of fluorous compositions may be prepared according to the present invention, included among them are complexes selected from the group consisting of perfluoroalkylphthalocyaninato metal complexes wherein the metal is selected from ruthenium, iron, cobalt, osmium, rhodium and iridium; (perfluoro-alkyl) 5, 10, 15, 20-tetrakis-pentafluorophenyl porphyrin metal complexes selected from ClM{P[(CH.sub.2).sub.n (CF.sub.2) CF.sub.3 ].sub.3 }.sub.3, ClM{P[O(CH.sub.2).sub.n (CF.sub.2).sub.m CF.sub.3 ].sub.3 }.sub.3, HM(CO).sub.x {P[(CH.sub.2).sub.n (CF.sub.2) .sub.m CF.sub.3 ].sub.3 }.sub.4-x, and HM(CO).sub.x {P[O(CH.sub.2).sub.n (CF.sub.2).sub.m CF.sub.3 ].sub.3 }.sub.4-x, wherein in each occurrence M is selected from cobalt, rhodium, iron, osmium, and iridium, x ranges from 1-3, (CH.sub.2).sub.n may be present or absent and when present n ranges from 1-5, and m ranges from 4-20.