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|homepage = [http://www.jefferies.com www.jefferies.com] |
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'''Jefferies |
'''Jefferies''' is a global [[investment bank]] and institutional securities firm. It is the largest independent bank in the U.S. The firm provides clients with [[capital markets]] and [[Derivative (finance)|financial advisory]] services, institutional brokerage, securities research, and [[asset management]]. |
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Jefferies offers [[mergers and acquisitions]], [[restructuring]], and other financial advisory services. Jefferies has coverage groups spanning across all industries including Aerospace & Defense, Business Services, CleanTech, Consumer & Retail, Energy, Financial Institutions Group, Financial Sponsors, Gaming & Leisure, Healthcare, Industrials, Maritime, Media, Public Finance, Real Estate & Lodging, Technology, and Telecommunications. The firm also provides investors fundamental research and trade execution in equity, [[Equity-Linked Note|equity-linked]], and [[fixed income securities]], including [[corporate bond]]s, [[United States Treasury security|United States government]] and agency securities, repo finance, [[mortgage-backed securities|mortgage-]] and [[Asset-backed security|asset-backed securities]], [[municipal bonds]], whole loans, and [[emerging market debt]], as well as [[commodities]] and [[Derivative (finance)|derivatives]]. In addition, Jefferies provides asset management services and products to institutions and other investors. |
Jefferies offers [[mergers and acquisitions]], [[restructuring]], and other financial advisory services. Jefferies has coverage groups spanning across all industries including Aerospace & Defense, Business Services, CleanTech, Consumer & Retail, Energy, Financial Institutions Group, Financial Sponsors, Gaming & Leisure, Healthcare, Industrials, Maritime, Media, Public Finance, Real Estate & Lodging, Technology, and Telecommunications. The firm also provides investors fundamental research and trade execution in equity, [[Equity-Linked Note|equity-linked]], and [[fixed income securities]], including [[corporate bond]]s, [[United States Treasury security|United States government]] and agency securities, repo finance, [[mortgage-backed securities|mortgage-]] and [[Asset-backed security|asset-backed securities]], [[municipal bonds]], whole loans, and [[emerging market debt]], as well as [[commodities]] and [[Derivative (finance)|derivatives]]. In addition, Jefferies provides asset management services and products to institutions and other investors. |
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=== 1962 - 1987 === |
=== 1962 - 1987 === |
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Jefferies was founded by [[Boyd Jefferies]] in 1962. The firm started with $30,000 in borrowed capital, which Boyd Jefferies used to purchase a seat on the [[Pacific Coast Stock Exchange]].<ref>[http://www.nytimes.com/2001/08/25/business/boyd-l-jefferies-dies-at-70-headed-institutional-broker.html Boyd L. Jefferies Dies at 70; Headed Institutional Broker]. New York Times, August 25, 2001</ref> In the early years, the firm was a successful trader and pioneer in the what would be called the "[[third market]]", which allowed for the trading of listed stocks directly between institutional investors in an [[over-the-counter (finance)|over-the-counter]] style, providing liquidity and anonymity to buyers. In addition to its [[third market]] niche, Jefferies pioneered use of the split commissions in 1964. |
Jefferies was founded by [[Boyd Jefferies]] in 1962. The firm started with $30,000 in borrowed capital, which Boyd Jefferies used to purchase a seat on the [[Pacific Coast Stock Exchange]].<ref>[http://www.nytimes.com/2001/08/25/business/boyd-l-jefferies-dies-at-70-headed-institutional-broker.html Boyd L. Jefferies Dies at 70; Headed Institutional Broker]. New York Times, August 25, 2001</ref> In the early years, the firm was a successful trader and pioneer in the what would be called the "[[third market]]", which allowed for the trading of listed stocks directly between institutional investors in an [[over-the-counter (finance)|over-the-counter]] style, providing liquidity and anonymity to buyers. In addition to its [[third market]] niche, Jefferies pioneered use of the split commissions in 1964. |
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In 1987, Boyd Jefferies was charged by the government and the [[Securities and Exchange Commission]] with two securities violations: "parking" stock for customer [[Ivan Boesky]] and a customer margin violation. Jefferies, who had also earlier testified against Boesky, pleaded guilty, receiving a fine and a [[probation]] barring him from the securities industry for five years. The company itself was not charged, but its brokerage unit was censured by the SEC. Boyd Jefferies resigned from the company in 1987.<ref>[http://www.nytimes.com/1989/01/15/business/the-trials-and-errors-of-boyd-jefferies.html The Trials And Errors Of Boyd Jefferies]. New York Times, January 15, 1989</ref> |
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===1988-1999=== |
===1988-1999=== |
File:Jefferies-logo.JPG | |
Company type | Subsidiary |
---|---|
Industry | Investment services |
Founded | 1962 |
Headquarters | 520
Madison Avenue New York City, New York, United States |
Area served | Worldwide |
Key people | Richard B. Handler, Chairman,CEO and President |
Products |
Financial Services Investment Banking |
Revenue | ![]() |
![]() | |
![]() | |
Total assets | ![]() |
Total equity | ![]() |
Number of employees | 3,804 |
Parent | Leucadia National |
Website | www.jefferies.com |
Jefferies is a global investment bank and institutional securities firm. It is the largest independent bank in the U.S. The firm provides clients with capital markets and financial advisory services, institutional brokerage, securities research, and asset management.
Jefferies offers mergers and acquisitions, restructuring, and other financial advisory services. Jefferies has coverage groups spanning across all industries including Aerospace & Defense, Business Services, CleanTech, Consumer & Retail, Energy, Financial Institutions Group, Financial Sponsors, Gaming & Leisure, Healthcare, Industrials, Maritime, Media, Public Finance, Real Estate & Lodging, Technology, and Telecommunications. The firm also provides investors fundamental research and trade execution in equity, equity-linked, and fixed income securities, including corporate bonds, United States government and agency securities, repo finance, mortgage- and asset-backed securities, municipal bonds, whole loans, and emerging market debt, as well as commodities and derivatives. In addition, Jefferies provides asset management services and products to institutions and other investors.
Headquartered in New York City, Jefferies has over 30 offices worldwide including Boston, Houston, Los Angeles, San Francisco, Silicon Valley area as well as in leading financial centers around the world that include London, Frankfurt, Zürich, Hong Kong, Singapore, Shanghai, Tokyo, and Mumbai. [1]
Jefferies was named one of the World’s Most Admired Companies by Fortune magazine in 2011, [2] Best Place to Work in the Financial Industry by Here Is The City News in 2010, 2011, 2012 and 2013, [3] and one of the best companies to work for in the UK by The Sunday Times. [4]
On November 12, 2012, Jefferies announced its merger with Leucadia, its largest shareholder. Jefferies was valued at $3.8 billion and at the time of the acquisition. Jefferies remains independent and is the largest operating company within Leucadia. On March 1, 2013, along with the closing of the merger, Jefferies & Company, Inc. was converted to a limited liability company and rebranded Jefferies LLC.
Jefferies was founded by Boyd Jefferies in 1962. The firm started with $30,000 in borrowed capital, which Boyd Jefferies used to purchase a seat on the Pacific Coast Stock Exchange. [5] In the early years, the firm was a successful trader and pioneer in the what would be called the " third market", which allowed for the trading of listed stocks directly between institutional investors in an over-the-counter style, providing liquidity and anonymity to buyers. In addition to its third market niche, Jefferies pioneered use of the split commissions in 1964.
Baxter's expansion plans also included global expansion in electronic trading, corporate finance, international convertible sales, and derivative sales. Jefferies also moved quickly into the fourth market: off-exchange, computer-based (electronic) trading. In the fourth market, the broker's position was eliminated by the Portfolio System for Institutional Trading (POSIT), which traded portfolios and matched buyers and sellers automatically. The company created a wholly owned subsidiary, Investment Technology Group in 1987 to run POSIT. Investment Technology Group was eventually spun off as a separate public company in 1999. [6]
In January 2000, Frank Baxter stepped down as president of Jefferies and relinquished the CEO title later that year. In January 2001, Handler became Chairman and CEO, and John Shaw became sole president and COO. Handler and Shaw set out to build a fully integrated investment bank and to develop a merchant bank. The new leadership proposed to give equity to every employee and diversify the firm's revenue with asset management, a more aggressive buildup of investment banking and merchant banking. In September 2001, the firm moved its headquarters from Los Angeles to New York. During this period, Jefferies built its investment banking division primarily by acquiring boutique advisory firms with specific sector expertise, most notably Randall & Dewey (energy) and Broadview (technology). Significant acquisitions during this period included:
In June 2009, the firm hired more than 35 healthcare-focused investment banking professionals from UBS. UBS’s health care group, then led by Benjamin Lorello, was a major moneymaker for the firm. The group had closed more than $567 billion in transactions since 2005, generating in excess of $1 billion in revenues for UBS. Since moving to Jefferies, the healthcare group has been ranked the #1 bookrunner in number of healthcare follow-on equity transactions and the #1 ranked financial advisor in number of healthcare M&A transactions. [9] [10]
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|homepage = [http://www.jefferies.com www.jefferies.com] |
|homepage = [http://www.jefferies.com www.jefferies.com] |
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}} |
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'''Jefferies |
'''Jefferies''' is a global [[investment bank]] and institutional securities firm. It is the largest independent bank in the U.S. The firm provides clients with [[capital markets]] and [[Derivative (finance)|financial advisory]] services, institutional brokerage, securities research, and [[asset management]]. |
||
Jefferies offers [[mergers and acquisitions]], [[restructuring]], and other financial advisory services. Jefferies has coverage groups spanning across all industries including Aerospace & Defense, Business Services, CleanTech, Consumer & Retail, Energy, Financial Institutions Group, Financial Sponsors, Gaming & Leisure, Healthcare, Industrials, Maritime, Media, Public Finance, Real Estate & Lodging, Technology, and Telecommunications. The firm also provides investors fundamental research and trade execution in equity, [[Equity-Linked Note|equity-linked]], and [[fixed income securities]], including [[corporate bond]]s, [[United States Treasury security|United States government]] and agency securities, repo finance, [[mortgage-backed securities|mortgage-]] and [[Asset-backed security|asset-backed securities]], [[municipal bonds]], whole loans, and [[emerging market debt]], as well as [[commodities]] and [[Derivative (finance)|derivatives]]. In addition, Jefferies provides asset management services and products to institutions and other investors. |
Jefferies offers [[mergers and acquisitions]], [[restructuring]], and other financial advisory services. Jefferies has coverage groups spanning across all industries including Aerospace & Defense, Business Services, CleanTech, Consumer & Retail, Energy, Financial Institutions Group, Financial Sponsors, Gaming & Leisure, Healthcare, Industrials, Maritime, Media, Public Finance, Real Estate & Lodging, Technology, and Telecommunications. The firm also provides investors fundamental research and trade execution in equity, [[Equity-Linked Note|equity-linked]], and [[fixed income securities]], including [[corporate bond]]s, [[United States Treasury security|United States government]] and agency securities, repo finance, [[mortgage-backed securities|mortgage-]] and [[Asset-backed security|asset-backed securities]], [[municipal bonds]], whole loans, and [[emerging market debt]], as well as [[commodities]] and [[Derivative (finance)|derivatives]]. In addition, Jefferies provides asset management services and products to institutions and other investors. |
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=== 1962 - 1987 === |
=== 1962 - 1987 === |
||
Jefferies was founded by [[Boyd Jefferies]] in 1962. The firm started with $30,000 in borrowed capital, which Boyd Jefferies used to purchase a seat on the [[Pacific Coast Stock Exchange]].<ref>[http://www.nytimes.com/2001/08/25/business/boyd-l-jefferies-dies-at-70-headed-institutional-broker.html Boyd L. Jefferies Dies at 70; Headed Institutional Broker]. New York Times, August 25, 2001</ref> In the early years, the firm was a successful trader and pioneer in the what would be called the "[[third market]]", which allowed for the trading of listed stocks directly between institutional investors in an [[over-the-counter (finance)|over-the-counter]] style, providing liquidity and anonymity to buyers. In addition to its [[third market]] niche, Jefferies pioneered use of the split commissions in 1964. |
Jefferies was founded by [[Boyd Jefferies]] in 1962. The firm started with $30,000 in borrowed capital, which Boyd Jefferies used to purchase a seat on the [[Pacific Coast Stock Exchange]].<ref>[http://www.nytimes.com/2001/08/25/business/boyd-l-jefferies-dies-at-70-headed-institutional-broker.html Boyd L. Jefferies Dies at 70; Headed Institutional Broker]. New York Times, August 25, 2001</ref> In the early years, the firm was a successful trader and pioneer in the what would be called the "[[third market]]", which allowed for the trading of listed stocks directly between institutional investors in an [[over-the-counter (finance)|over-the-counter]] style, providing liquidity and anonymity to buyers. In addition to its [[third market]] niche, Jefferies pioneered use of the split commissions in 1964. |
||
In 1987, Boyd Jefferies was charged by the government and the [[Securities and Exchange Commission]] with two securities violations: "parking" stock for customer [[Ivan Boesky]] and a customer margin violation. Jefferies, who had also earlier testified against Boesky, pleaded guilty, receiving a fine and a [[probation]] barring him from the securities industry for five years. The company itself was not charged, but its brokerage unit was censured by the SEC. Boyd Jefferies resigned from the company in 1987.<ref>[http://www.nytimes.com/1989/01/15/business/the-trials-and-errors-of-boyd-jefferies.html The Trials And Errors Of Boyd Jefferies]. New York Times, January 15, 1989</ref> |
|||
===1988-1999=== |
===1988-1999=== |
File:Jefferies-logo.JPG | |
Company type | Subsidiary |
---|---|
Industry | Investment services |
Founded | 1962 |
Headquarters | 520
Madison Avenue New York City, New York, United States |
Area served | Worldwide |
Key people | Richard B. Handler, Chairman,CEO and President |
Products |
Financial Services Investment Banking |
Revenue | ![]() |
![]() | |
![]() | |
Total assets | ![]() |
Total equity | ![]() |
Number of employees | 3,804 |
Parent | Leucadia National |
Website | www.jefferies.com |
Jefferies is a global investment bank and institutional securities firm. It is the largest independent bank in the U.S. The firm provides clients with capital markets and financial advisory services, institutional brokerage, securities research, and asset management.
Jefferies offers mergers and acquisitions, restructuring, and other financial advisory services. Jefferies has coverage groups spanning across all industries including Aerospace & Defense, Business Services, CleanTech, Consumer & Retail, Energy, Financial Institutions Group, Financial Sponsors, Gaming & Leisure, Healthcare, Industrials, Maritime, Media, Public Finance, Real Estate & Lodging, Technology, and Telecommunications. The firm also provides investors fundamental research and trade execution in equity, equity-linked, and fixed income securities, including corporate bonds, United States government and agency securities, repo finance, mortgage- and asset-backed securities, municipal bonds, whole loans, and emerging market debt, as well as commodities and derivatives. In addition, Jefferies provides asset management services and products to institutions and other investors.
Headquartered in New York City, Jefferies has over 30 offices worldwide including Boston, Houston, Los Angeles, San Francisco, Silicon Valley area as well as in leading financial centers around the world that include London, Frankfurt, Zürich, Hong Kong, Singapore, Shanghai, Tokyo, and Mumbai. [1]
Jefferies was named one of the World’s Most Admired Companies by Fortune magazine in 2011, [2] Best Place to Work in the Financial Industry by Here Is The City News in 2010, 2011, 2012 and 2013, [3] and one of the best companies to work for in the UK by The Sunday Times. [4]
On November 12, 2012, Jefferies announced its merger with Leucadia, its largest shareholder. Jefferies was valued at $3.8 billion and at the time of the acquisition. Jefferies remains independent and is the largest operating company within Leucadia. On March 1, 2013, along with the closing of the merger, Jefferies & Company, Inc. was converted to a limited liability company and rebranded Jefferies LLC.
Jefferies was founded by Boyd Jefferies in 1962. The firm started with $30,000 in borrowed capital, which Boyd Jefferies used to purchase a seat on the Pacific Coast Stock Exchange. [5] In the early years, the firm was a successful trader and pioneer in the what would be called the " third market", which allowed for the trading of listed stocks directly between institutional investors in an over-the-counter style, providing liquidity and anonymity to buyers. In addition to its third market niche, Jefferies pioneered use of the split commissions in 1964.
Baxter's expansion plans also included global expansion in electronic trading, corporate finance, international convertible sales, and derivative sales. Jefferies also moved quickly into the fourth market: off-exchange, computer-based (electronic) trading. In the fourth market, the broker's position was eliminated by the Portfolio System for Institutional Trading (POSIT), which traded portfolios and matched buyers and sellers automatically. The company created a wholly owned subsidiary, Investment Technology Group in 1987 to run POSIT. Investment Technology Group was eventually spun off as a separate public company in 1999. [6]
In January 2000, Frank Baxter stepped down as president of Jefferies and relinquished the CEO title later that year. In January 2001, Handler became Chairman and CEO, and John Shaw became sole president and COO. Handler and Shaw set out to build a fully integrated investment bank and to develop a merchant bank. The new leadership proposed to give equity to every employee and diversify the firm's revenue with asset management, a more aggressive buildup of investment banking and merchant banking. In September 2001, the firm moved its headquarters from Los Angeles to New York. During this period, Jefferies built its investment banking division primarily by acquiring boutique advisory firms with specific sector expertise, most notably Randall & Dewey (energy) and Broadview (technology). Significant acquisitions during this period included:
In June 2009, the firm hired more than 35 healthcare-focused investment banking professionals from UBS. UBS’s health care group, then led by Benjamin Lorello, was a major moneymaker for the firm. The group had closed more than $567 billion in transactions since 2005, generating in excess of $1 billion in revenues for UBS. Since moving to Jefferies, the healthcare group has been ranked the #1 bookrunner in number of healthcare follow-on equity transactions and the #1 ranked financial advisor in number of healthcare M&A transactions. [9] [10]