Jefferies Group is growing by leaps and bounds, with recent news of plans to buy Prudential's 400-person commodities and financial-derivatives unit for about $400 million, according to the Wall Street Journal which writes:
"The potential transaction underscores the ambitions of Jefferies to grow from a securities-industry boutique focused on stock trading into a full-service investment bank that helps clients raise money and trade stocks, bonds and derivatives, where investors and big industry players transfer the risks of future price movements."
Jefferies has hired 850 people since 2009, bringing headcount to more than 3,000. New hires have focused on bond traders and investment bankers, including 34 health-care bankers from UBS and derivatives-industry veteran Patrice Blanc to run a new futures division.
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