Jefferies Appoints New Head of U.S. Equity Trading and Enhances Overall Alignment of U.S. Equities Trading Team.
NEW YORK New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Jefferies & Company, Inc., the principal operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. of Jefferies Group, Inc. (NYSE NYSE
See: New York Stock Exchange : JEF JEF Jefferies Group, Inc. (stock symbol)
JEF Junge Europäische Föderalisten (German: Young European Federalists)
JEF Joint Educational Facilities, Inc. ), today announced the appointment of Edward J. Craig as Managing Director and Head of U.S. Cash Equities Trading as part of an enhanced alignment of the Firm's sector-centric trading effort. Mr. Craig, who joined Jefferies in 2006 and has over 12 years of trading experience, will oversee all exchange-listed, NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on , and Bulletin Board cash trading.
"Jefferies has recruited significant additional sales, trading, capital markets, research, and technology professionals to our U.S. Equities department over the past 15 months, increasing our headcount in this area to more than 650 people," commented Richard B. Handler Richard B. Handler is Chairman of the Board and CEO of Jefferies & Co. as well as Chairman of Jefferies Group, Inc. since February 2002 and CEO of Jefferies Group, Inc. and Jefferies & Company, Inc. since January 2001. He also served as Co-President of both entities during 2000. Mr. , Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Jefferies. "This investment in human and intellectual capital demonstrates our deep commitment to attracting world-class talent and maintaining our leadership in providing liquidity and execution to institutional investors around the globe."
Jefferies' U.S. equity trading In finance, equity trading is the buying and selling of company stock shares. Shares in large publicly-traded companies are bought and sold through one of the major stock exchanges, such as the New York Stock Exchange, London Stock Exchange or Tokyo Stock Exchange, which serve as group is aligned into sector teams led by seasoned senior trading professionals:
* In addition to his role as Head of Trading, Mr. Craig will continue as head of Consumer, Retail, and Gaming sector trading. Kenneth F. Byrne and Matthew L. Pymm, with 25 years of trading experience between them, are joining Jefferies as Co-heads of Healthcare sector trading. William W. Painter continues as head of the Firm's Financials sector trading.
* Thomas E. Labenz recently joined Jefferies to lead trading of the Technology, Media, and Telecommunications (TMT TMT 1 Tarsometatarsal 2 Thermomechanical treatment 3 Treatment, see there ) sectors. Christopher M Braceland heads the Firm's Media and Telecommunications trading, specifically.
* Michael F. Rail oversees all trading in the Energy, Utilities, and Industrial sectors. Later this quarter, Mr. Rail will be joined by Mark A. Di Benedetto and Peter McQuade, both most recently at Credit Suisse and with over 20 years of trading experience between them. Messrs. Di Benedetto and McQuade will focus on Utilities and Metals & Mining trading, respectively. Edward Britt heads the Firm's Industrials sector trading effort.
* Stephen L. Dolan will head the trading of Small-Cap and Bulletin Board securities (with a focus on Special Situations). Alfonse Lentini will continue as head of Bulletin Board trading.
In addition to these sector teams, Craig Peckham, most recently head of Special Situations Equity Research at Jefferies, will join the trading department as a desk analyst and head of Special Situations Trading Strategy. In this new role, Mr. Peckham will establish client-centric, special situations strategies that include post-reorganization, risk arbitrage The purchase of stock in a corporation that appears to be the target of an imminent takeover in the hope of making large profits if the takeover occurs.
Risk arbitrage is practiced by investors called risk arbitrageurs. , spin-offs, and distressed equities. Mr. Peckham's initial focus will be in support of the Firm's leading institutional Bulletin Board business.
"Our world-class and well-known sales trading team will now be even better aligned with its equally-talented sector trading partners. Our clients will experience a significantly enhanced trading product that further leverages the best execution and natural crossing opportunities that Jefferies has long been known for delivering," said Ross L. Stevens, Co-Head of the Firm's Equity Department.
"This alignment of our trading effort in U.S. Equities is another example of our rapidly-expanding full-service offering, and the addition of one of our top-rated research analysts to our trading team further demonstrates our commitment to providing clients with the most innovative and productive trading solutions," added Jason D. Griffith, Co-Head of the Firm's Equity Department.
Jefferies, a global investment bank and institutional securities firm, has served growing and mid-sized companies and their investors for 45 years. Headquartered in New York, with more than 25 offices around the world, Jefferies provides clients with capital markets and financial advisory services advisory services
advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , institutional brokerage, securities research and asset management. The firm is a leading provider of trade execution in equity, high yield, convertible and international securities for institutional investors and high net worth individuals. Jefferies & Company, Inc. is the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF; www.jefferies.com).