Not all doom and gloom at Jefferies

The last broker-dealer was always going to feel the pain of a continuing capital markets slowdown, but sales and trading has provided a useful fillip.

One year ago, Euromoney went deep into Jefferies to lay out the firm’s 20-year journey from being the minnow of investment banking to breaking into ‘the big league’.

At the time, the firm’s irrepressible chief executive Rich Handler and president Brian Friedman were full of the joys of spring, able to mark the occasion of the firm’s 60th anniversary with records aplenty after having gorged on the capital markets feast that was on offer in 2021, in what would be the last hurrah of a zero-rate world.

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