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Stories of Interest
- Deutsche Bank Is Weighing Massive Cuts in Its U.S. Cash Equities Unit
- Richard Jenrette, Co-Founder of DLJ Investment Bank, Dies at 89
- Goldman Sachs Makes First Hire in Cryptocurrency Markets Unit
- Special FINRA Election to Fill Large Firm Governor Vacancy
- Chicago-Based Investment Adviser Sentenced to 151 Months in Prison - SEC
- Dun & Bradstreet Hit With FCPA Violations - SEC
- SEC Charges Additional Defendant in Fraudulent ICO Scheme
- Warren Buffett Simply Blew it on Wells Fargo Stock: Dick Bove (Video)
- Barclays and Deutsche Bank to Lag U.S. Trading Peers
- NY AG Schneiderman Seeks to Close Loophole That Could Let Trump Pardons Block State Charges
- 'Fearless Girl' is Moving to NYSE After Year Staring Down 'Charging Bull'
- What's In Your Wallet - American Express Shares Soar After Earnings Release
- Deutsche Bank's Executive Departures Continue Following Change in CEO
- Reflections of an Economist Commissioner (SEC's Piwowar)
- Billionaire HF Manager and The Fed Chair Runner-Up are Investing in New Cryptocurrency
- Court Finds 2 Brokers Liable for Fraud Involving Mortgage-Backed Securities
- One FINRA: An Organization’s Commitment to Diversity and Inclusion
- 2018 GASB Accounting Support Fee to Fund the Governmental Accounting Standards Board
- Barclays Eyes Move Into Cryptocurrency Trading
- Goldman Breaks From Wall Street Pack with Bond-Trading Boom
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NEWSLETTERS & ALERTS
Parent Company of Jefferies Group Ditches Meatpacking, Auto Sales for Investment Banking
Leucadia National Corp., which acquired the Jefferies Group in 2012 for $2.8 billion has decided to "go whole hog" into investment banking. But first, it must complete the sale of its meatpacking and auto-dealership businesses. Leucadia is also changing its name to Jefferies Financial Group.
When Leucadia acquired Jefferies in late 2012, it installed Jefferies management as its top executives - i.e., Richard Handler as CEO, and Brian Friedman as President and chairman of the Executive Committee. Clients of the firm were assured that "nothing will change in how we work with you."
The firm controls several financial-services companies in addition to Jefferies, including in asset management, commercial-mortgage banking and residential real-estate development. Through its merchant-banking operations, it has ownership stakes in other firms including a broadband services company, a timber harvester and a mining project.