Jefferies raids more senior tech bankers on Wall Street as it moves up U.S. rankings

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Jefferies has continued to hire senior technology investment bankers in the U.S. a year after a controversial raid on Credit Suisse that saw it rise up the rankings and land a place on some big ticket deals.

The U.S. investment bank has just landed a trio of technology-focused managing directors from Wells Fargo as it continues to add headcount in the sector.

Michael Long, a managing director within Wells Fargo’s TMT investment banking team, joined Jefferies in November as an MD and global head of tech enabled services. He had worked at Wells Fargo in New York for over 13 years, having joined the bank in August 2004.

Meanwhile, Thomas Wilson, head of business and transaction services at Wells Fargo, joined Jefferies as global head of tech-enabled services M&A. Again, Wilson had worked at Wells Fargo for nearly 14 years. Patrick Bailey, who was a director in Wells Fargo’s TMT banking team, also came in as a managing director in technology investment banking at Jefferies in November.

Jefferies had been involved with a talent tug of war with Credit Suisse, following a raid on five senior technology bankers in May last year as it built a technology banking presence in San Francisco. The hires included Cully Davis, who came in as a head of West Coast technology banking, and Bill Brady, who joined as chairman of technology investment banking.

In January, Credit Suisse moved to block Jefferies from luring eight more of its senior bankers. It convinced three to stick around.

In October, Jefferies also hired Timothy Roepke, a managing director within Credit Suisse’s TMT team, as a managing director on its tech banking team.

All of this investment has been paying off. So far this year, Jefferies is ranked eighth in the U.S. technology investment banking league tables, up from 12th in 2016, and year-to-date revenues of $225.7bn are nearly double those of 2016, according to figures from Dealogic.

Jefferies had a place on some big deals this year including the $3.9bn IPO of Snap Inc in March and the $1.71bn purchase of software company Broadsoft by Cisco in October.

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