Jefferies & Company

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Jefferies Group Inc.
Image:Jefferies JPG.JPG
Type	Public (NYSE: JEF)
Founded	1962
Headquarters	New York
Key people	Richard B. Handler, Chairman & CEO
Industry	Investment services
Products	Financial Services Investment Banking
Revenue	Image:Green Arrow Up Darker.svg $1.96 billion USD (2006)
Net income	Image:Green Arrow Up Darker.svg $205 million USD (2006)
Employees	2,254 (2006)
Website	www.jefferies.com

Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF) is a full-service global investment bank and institutional securities firm focused on growing and dynamic companies and their investors. Headquartered in New York, Jefferies has offices in leading financial centers including New York City, Los Angeles, San Francisco, London, Zürich, Paris, Tokyo, Shanghai, Singapore, and Dubai with pending office openings in Frankfurt and New Delhi, and a support office in Hong Kong.

Jefferies provides a broad range of investment banking services in a number of global growth sectors including aerospace and defense, cleantech, energy, healthcare, industrial and technology. The Firm is also a leader in the sale of global equities, convertible and high yield bonds, providing a variety of leading-edge solutions in sales, trading, analysis and investment management for institutional investors and high net worth individuals.

1 Background
2 Businesses
3 Management
4 External links
5 Sources

[edit] Background

Boyd Jefferies (1930-2001) founded Jefferies & Company in 1962 as an equity trading firm with one employee and a booth on the floor of the Pacific Exchange. In those days of fixed commissions, Jefferies pioneered split commissions, leading to a rapid growth in clients. Moreover, Jefferies focused primarily on the third market—direct trades between large institutional buyers and sellers. At a time when 75% of market trades were for retail customers, Jefferies focused on emerging markets for large block trades. By 1966, Jefferies was the 7th largest firm in size and trading on the New York Stock Exchange.

Over the next 20 years, the firm continued to build its reputation for client service and attracted top talent as well as an enviable client list. The firm was an innovator in 24-hour trading, international trading and derivatives trading. In 1983 Jefferies went public and by 1984, it was one of the top ten publicly traded brokerages in terms of profitability. In 1990, Jefferies hired 60 bankers including Richard B. Handler, Chairman and CEO, Andrew Whittaker, Vice Chairman and Co-Head Investment Banking, and Chris Kanoff, Executive Vice President and Co-Head Investment Banking from Drexel Burnham Lambert (Michael Milken's former junk bond shop).

In the last fifteen years, Jefferies revenues increased from $300 million in 1993 to $540 million in 1996 to close to $2 billion in 2006, with a market capitalization of over $4 billion (04/07/06, fully diluted).

[edit] Businesses

Jefferies operates in two business segments, Capital Markets and Asset Management. The Capital Markets segment includes Jefferies Group, Inc.'s traditional securities and investment banking activities. The Capital Markets segment provides the research, sales, trading and investment banking effort for various fixed-income, equity and advisory products and services. The Asset Management segment primarily includes operating activities related to the Company's asset management businesses, including Victoria Falls CLO, Summit Lake CLO, Diamond Lake CLO, Jefferies RTS Fund, Jefferies Paragon Fund and Jefferies Buckeye Fund.

[edit] Management

Richard B. Handler, Chairman & Chief Executive Officer
Brian P. Friedman, Chairman, Executive Committee (JG) Chairman of the Executive Committee
David Weaver, President, Jefferies International Ltd.
Andrew R. Whittaker, Vice Chairman and Co-Head Investment Banking
Joseph A. Schenk, Chief Financial Officer and Executive Vice President
Chris M. Kanoff, Executive Vice President and Co-Head Investment Banking
Lloyd H. Feller, General Counsel and Executive Vice President