Hire Wire Apr 03 2012

Jefferies Equity Execs Depart

By brett philbin

Two executives within Jefferies Group Inc.'s equities trading business are leaving their positions at the investment bank, according to people familiar with the situation.

David Silber, head of Americas equities, and Jason Griffith, global head of equities, will leave those roles, the people said. Griffith could take another job with the firm, while it was unclear whether Silber would stay at Jefferies in another capacity, the people said. Silber and Griffith weren't available to comment.

Jefferies Chief Executive Richard Handler and Executive Committee Chairman Brian Friedman informed employees of the changes earlier Tuesday.

Equities trading revenue at Jefferies fell 23% from a year ago to $136 million in its fiscal first quarter, though results improved 10% sequentially. While trading volumes, in general, plunged late in 2011, bond trading has been more resilient year-to-date, as investors have boosted their risk appetite with the clearing of some uncertainty related to Europe's debt crisis.

Griffith has worked at Jefferies for more than six years, while Silber is a more than five-year veteran of the firm, according to Financial Industry Regulatory Authority records.

Bloomberg earlier reported that Griffith was departing as global head of equities.

Write to Brett Philbin at brett.philbin@dowjones.com




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