Jefferies Financial Group

Jefferies Financial Group Inc. engages in the investment banking and capital markets, and asset management businesses in the Americas, Europe, the Middle East, Africa, and Asia. The company operates in Investment Banking and Capital Markets, Asset Management, Merchant Banking, and Corporate segments. It provides investment banking, advisory services with respect to mergers or acquisitions, restructurings or recapitalizations and private capital advisory transactions; equity and debt underwriting; and corporate lending. In addition, the company offers financing, securities lending, and other prime brokerage services; equities research and finance; and wealth management services. Further, it provides clients with sales and trading of investment grade corporate bonds, U.S. and European government and agency securities, municipal bonds, mortgage-backed and asset-backed securities, leveraged loans, consumer loans, high yield and distressed securities, emerging markets debt, interest rate, and credit derivative products, as well as foreign exchange trade execution and securitization; and manages, invests in, and provides services to a diverse group of alternative asset management platforms across a spectrum of investment strategies and asset classes. The company was formerly known as Leucadia National Corporation and changed its name to Jefferies Financial Group Inc. in May 2018. Jefferies Financial Group Inc. was founded in 1962 and is headquartered in New York, New York.

In 1970, Ian Cumming and Joseph S. Steinberg both graduated in from Harvard Business School and went to work for Carl Marks & Company, an investment bank.In 1979, they gained control of Talcott National Corporation, sold the James Talcott Factors division, and, in 1980, they renamed the company Leucadia.In 1984, the company made a $61 million profit on its $77 million investment in Avco Corporation by forcing the sale of the company to Textron.In 1991, the company acquired insurer Colonial Penn from Florida Power & Light for $150 million.In 1997, the company sold the life insurance division of Colonial Penn to Conseco for $460 million and sold the auto insurance division of Colonial Penn to GE Capital for $950 million.In 1998, the company sold Charter National Life Insurance and Intramerica Life Insurance to Allstate.In 2002, the company received a 44% stake in WilTel Communications Group as a result of a bankruptcy reorganization.In May 2003, the company made an offer to acquire the remaining shares of WilTel Communications Group that it did not already own.In August 2003, after increasing its offer, the company acquired the remaining shares of WilTel Communications Group.In September 2003, the company acquired RehabWorks.In January 2004, the company financed Pershing Square Capital Management, a hedge fund managed by Bill Ackman.In July 2004, the company sought, but failed, to buy a controlling stake in MCI Communications. In September 2004, the company sold its stake in MCI for a $20 million profit.In 2005, the company sold WilTel Communications Group to Level 3 Communications for a $180 million profit.In 2007, the company acquired ResortQuest International from Gaylord Hotels for $35 million.In 2009, the company entered into a 50/50 joint venture with Berkshire Hathaway called Berkadia, which acquired the North American loan origination and servicing business of Capmark Financial Group.In 2010, the company sold ResortQuest International to Wyndham Worldwide for $56 million in cash.In 2011, the company acquired a 79% interest in National Beef Packing Company for $867.9 million.In 2012, the company proposed building a $3 billion syngas facility in south Chicago to convert coal and petroleum waste into natural gas; however, the plant never received legislative approval.In 2013, the company merged with Jefferies Group and Richard Handler became chief executive officer of the company.In 2015, the company made an investment in FXCM after FXCM suffered losses due to the appreciation of the Swiss Franc.In 2016, the company restructured its investment in FXCM.In May 2018, the company was renamed Jefferies Financial Group.

Jefferies, the global investment banking firm, has served companies and investors for over 50 years. Headquartered in New York, with offices in over 30 cities around the world, the firm provides clients with capital markets and financial advisory services, institutional brokerage and securities research, as well as wealth management. The firm provides research and execution services in equity, fixed income, and foreign exchange markets, as well as a full range of investment banking services including underwriting, mergers and acquisitions, restructuring and recapitalization, and other advisory services, with all businesses operating in the Americas, Europe and Asia.