Sep

At Jefferies, Like Wall Street, Trading Cedes to Banking

Trading revenue fell to worst since first quarter of 2016
Investment-banking revenue at the firm surges 61% to a record

Jefferies Group, like its Wall Street competitors, is leaning on investment banking to weather a trading slump.

The firm’s revenue from trading dropped in the three months through August to the lowest in six quarters, a sign that an industrywide decline in transactions is worsening. The quarter was saved by investment banking, where fees surged 61 percent to a record $475.7 million…

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At Jefferies, Like Wall Street, Trading Cedes to Banking

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