Jefferies Group LLC, an American investment bank, announced this week that it has secured a new Chief Financial Officer (CFO) with Matthew Larson to take on the role effective from the 24th of August 2020.
Larson will be succeeding Teresa Gendron as the Group CFO, who has been the interim CFO of Jefferies following the passing of its former CFO, Peg Broadbent.
Larson joins the investment bank from Barclays Americas, where he is currently the CFO, a role he has held for more than three years, his LinkedIn profile shows. He is also the CFO of Barclays PLC’s Global Markets business.
Earlier in his career, Larson was a Managing Director at Goldman Sachs. During his time with the company, which spanned for eight years, he held several roles in the Finance Division
Commenting on the appointment, Rich Handler, Chief Executive Officer of Jefferies Group, and Brian Friedman, Chairman of the Executive Committee of Jefferies, said in the statement: “We are very pleased that Matt will soon become Jefferies Group’s CFO.
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“Matt’s experience and skills make him well qualified to be our CFO and to oversee our corporate support functions. We want to thank Teri for the tremendous support she has given Jefferies Group as its interim CFO.
“We look forward to Teri and Matt working closely together as the respective CFOs of Jefferies Financial Group Inc. and Jefferies Group.”
In addition to his career experience, Larson is a Certified Public Accountant. He graduated from the Idaho State University, where he obtained a Bachelor of Science in Finance.
Jefferies sees solid Q2 2020 performance
The appointment of Larson, which was announced on Monday, follows on from Jefferies reporting a record financial performance for the second quarter of 2020.
As Finance Magnates reported, during the second quarter, the company saw net revenue of $1.03 billion, pre-tax income of $173 million, net earnings of $129 million, and return on tangible equity of 11.6 per cent.