Research is considered a very important part of the value-added by portfolio managers. Huge costs of structuring a research department require most firms to buy research from the sell side (investment banks and brokers). In-house research teams also like to supplement their research with alternative views from the sell side.
Jefferies is in discussions to sell its commodities and financial derivatives brokerage, which has been dealing with high costs and falling fees, Reuters reported.
Jefferies Group Inc., which said last year it wanted to be among the top five brokers on the London Metal Exchange, stopped trading on the floor of the world’s biggest industrial-metals marketplace after 14 months.
Jefferies Group Inc., the investment bank that agreed to be acquired by Leucadia National Corp., said fiscal fourth-quarter profit rose 48 percent, beating analysts’ estimates, as trading revenue surged.
U.S. stocks erased gains, failing to rebound after the Standard & Poor’s 500 Index’s biggest weekly retreat since June, as investors awaited budget talks in Washington and European finance chiefs met to discuss Greek aid.
Jefferies Group Inc. agreed to be acquired by its biggest shareholder, Leucadia National Corp., in a $2.8 billion deal the companies said would make the investment bank better able to weather market turmoil.
Jefferies Group Inc., the investment bank that helped rescue Knight Capital Group Inc., dropped the most in eight months in New York trading after reporting earnings that fell short of analysts’ estimates excluding gains from the deal.
The acquisition includes Prudential Bache Commodities LLC, which was the 12th largest futures broker in 2010 based on customer segregated funds.
New employees and promotions in the trading industry