NEW YORK & LONDON, Sep 16, 2010 (BUSINESS WIRE) -- Jefferies announced today that it is establishing a Futures Division and has hired Patrice Blanc, formerly the Chief Executive Officer of Newedge Group, to lead the building of this Division as its President. Jefferies' Futures Division will provide trading customers execution and clearing of futures and options on listed financial and commodity markets. Mr. Blanc will join Jefferies in October
"We are pleased to enter the futures segment of the markets under the leadership of Patrice Blanc, one of the most capable executives in the global futures business," said Richard Handler, Chief Executive Officer of Jefferies. "We will be recruiting a full team of sales, execution and operations professionals to assure we offer our customers the highest level of service."
"Patrice Blanc brings to Jefferies a track record of superior client service and business building," added Brian Friedman, Chairman of the Executive Committee of Jefferies. "With the Dodd-Frank bill and other developments we envision, we will seek to take a leadership role in both the futures and derivatives markets over the next several years."
"I am excited to join Jefferies at this historic time in the evolution of the futures and swaps markets," commented Mr. Blanc, newly appointed President of Jefferies' Futures Division. "Jefferies is incredibly well positioned to be a leader in providing customers with both execution and clearing services."
Mr. Blanc was previously Chief Executive Officer of Newedge Group, a joint venture that brought together the business of Fimat and Calyon Financial, from the formation of the combined company in January 2008 until his resignation in July 2010. He previously served as Chairman and Chief Executive Officer of the Fimat Group from 2002 until the launch of Newedge Group. Mr. Blanc became President and CEO of Fimat USA in June 2001 after joining the Fimat New York division in November 1997 as General Manager. From July 1994 through 1997, he was responsible for establishing Fimat's office in Brazil and was appointed Fimat Brazil General Manager in January 1995. Mr. Blanc first joined Fimat Paris as the head of the firm's trading desk on the MATIF in 1989 and became Deputy General Manager of the branch in September 1991.
Mr. Blanc started his career in the brokerage industry in September 1984 with Refco SA in Paris. In September 1988, he moved to Lehman Brothers in Paris and established a desk specializing in selling US futures and options products to French corporations. Overall, Mr. Blanc has over 25 years of experience in the derivatives and financial markets, with extensive qualifications in new venture, start-up and multinational organizations. He is a member of the Futures Industry Association Board of Directors.
Jefferies, a global securities and investment banking firm, has served companies and their investors for more than 48 years. Jefferies & Company, Inc. is the principal US operating subsidiary of Jefferies Group, Inc. (JEF 24.78, +0.02, +0.08%) , and Jefferies International Limited is the principal UK operating subsidiary. Jefferies International Limited, a UK-incorporated company, is authorised and regulated by the UK Financial Services Authority.