Jefferies & Co.

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Jefferies Group Inc.

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	$1.43 billionUSD (2005)
Net income	$195 million USD (2005)
Employees	2,045 (2006)
Website	www.jefferies.com

Jefferies Group Inc. NYSE: JEF, is the holding company for Jefferies & Co., a global investment bank and institutional securities firm which provides services including investment banking, sales and trading, research, and asset management. Jefferies & Co is a leading Merger and Acquisition (M&A) franchise with particular strength in middle market exclusive sales and divestitures.

1 Background
2 Structure
3 Management
4 External links

[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 25 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. Jefferies went public in 1983 and by 1984, it was one of the top ten publicly traded brokerages in terms of profitability. In the last fifteen years, Jefferies revenues increased from $145 million in 1987 to more than $300 million in 1993 to $540 million in 1996 to more than $1.2 billion in 2004, with a year-end equity market capitalization of over $2 billion.

[edit] Structure

Jefferies & Company, Inc. is the principal operating subsidiary of Jefferies Group, Inc. The main offices are located in New York, Los Angeles and Stamford, in addition to more than 20 offices around the world. Jefferies & Company, Inc. is a member of the National Association of Securities Dealers, Chicago Mercantile Exchange, Boston Stock Exchange, International Stock Exchange of the UK and the Republic of Ireland, Pacific Exchange, Securities Investor Protection Corporation, Municipal Securities Rulemaking Board, National Securities Clearing Corporation and is registered with the Securities and Exchange Commission.

[edit] Management

The Chairman of the Board and CEO is Richard B. Handler, who has been Chairman of Jefferies Group, Inc. since February 2002 and CEO of Jefferies Group, Inc. and Jefferies & Company, Inc. since January 2001. He also served as Co-President of both entities during 2000. Mr. Handler was elected to the Board of Directors of Jefferies Group, Inc. in May 1998 and Jefferies & Company, Inc. in May 1993. He was the Managing Director of High Yield Capital Markets at Jefferies & Company, Inc., after co-founding that group as an Executive Vice President in April 1990.