Midsized investment bank Jefferies Group Inc. (NYSE:JEF) is aggressively hiring senior bankers, and it is in particular looking for talent in fixed-income, high-yield, investment banking,
equity trading and overseas businesses -- often at the expense of larger rivals. However, its aggressive push has led to some trouble with one larger rival.
"We are not just lining people up and loading them in," Chris
Kanoff, Jefferies' co-head of investment banking and an executive vice
president, told
Reuters.
But the phrase "loading them in" sounds about right: Jefferies has added almost 200 employees since the beginning of 2009, with several coming from competitors. Over the year, Jefferies has hired staff from Deutsche Bank (NYSE:DB), Bank of America Merrill Lynch (NYSE:BAC)
, Credit Suisse Group (NYSE:CS), Goldman Sachs Group Inc. (NYSE:GS), Lehman Brothers Inc., Bear Stearns Cos. and UBS.
However, UBS did not take kindly to Jefferies hiring 36 bankers, amounting to practically all of the Swiss firm's U.S. healthcare investment banking group. Consequently, UBS
filed a claim against Jefferies. Among the personnel cited as conspiring with Jefferies in the alleged poaching are Benjamin Lorello, head of its healthcare investment banking group, and managing director Sage Kelly (both moved over to Jefferies).
For the latest on who has moved to Jefferies, check out
Movers & shakers or
The Deal Pipeline (subscription required).
- Maria WoehrAlso see:
BofA Merrill Lynch exodusBear Stearns exodus
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