Jefferies Group, an investment banking company, confirmed rumors today that the former global head of emerging markets for Europe, the Middle East and Africa (EMEA) at Nomura, Fred Jallot, is joining the firm.
In his new role, Jallot will be the head of European fixed income in London. He will begin his new position with Jefferies on January 2, 2019, and will report to Fred Orlan, the Global Head of Fixed Income at Jefferies, in New York.
Commenting on the appointment, Orlan said: “we are very excited to have Fred Jallot join Jefferies’ leading global fixed income platform. As a broadly experienced professional in global fixed income, his relationships and leadership will further enhance Jefferies’ growth in this market.
“This senior hire is an example of Jefferies’ emphasis on enhancing our firm’s European capabilities to serve our regional and global client base,” he added.
During his career, Jallot has accrued more than two decades worth of professional experience in the financial industry. He has held a number of senior management roles. He originally joined Nomura in July 2017, with rumors surfacing in mid-2018 that he was leaving the Japanese financial giant.
ACY Securities Supports ASIC’s Product Intervention OrderGo to article >>
While at Nomura, Jallot made a number of hires, with many leaving after he departed the firm in June. In his new role at Jefferies, he may rehire these professionals. However, Jefferies is known to be selective with its hires.
Jefferies has declined to confirm Jallot’s appointment, which would be the second position he has held in 18 months.
Jefferies reports weak Q3 results for fixed income
The appointment of Jallot follows on from Jefferies reporting its third-quarter results in September. For fixed income, the firm published light revenues, coming in at $140 million. This is up by 17 percent from the second quarter of this year.
Although this is an increase, the Chief Executive Officer Rich Handler and Brian Friedman, chairman of the executive committee, said the sector struggled during the three month period and had lower levels of client engagement.
The firm’s emerging markets business also managed to report solid results, despite a challenging market environment.