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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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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.