An unconfirmed report that hit Finance Magnates’ press desk says that Jefferies Financial Group, a Nasdaq-listed financial services provider, is allegedly shutting down its FX Prime Brokerage business.

No major details were disclosed as of press time. Finance Magnates has reached out to the company for confirmation about the matter, and it is waiting for a response to update the article with the statement from the firm accordingly.

Located in New York City, with offices in over 30 cities around the world, the firm provides clients with capital markets and financial advisory services, institutional brokerage, securities research, as well as wealth management and asset management.

In addition to providing research and execution services in equity, fixed income and foreign exchange markets, the company offers a full range of investment banking services, including underwriting, mergers and acquisitions, restructuring and recapitalization, as well as other advisory services.

Financial Results

In August 2021, Jefferies announced its financial results for three months and nine months ended 31 August 2021. The financial firm reported a substantial jump in Net Income as the number reached $407 million, or $1.50 per diluted share in the recent quarter.

For the nine-month period that ended 31 August 2021, Jefferies Financial Group’s Net Income attributable to common shareholders touched $1.34 billion.

Additionally, Jefferies Group LLC posted a 19% YoY jump in Net Revenue as the number reached $1.65 billion for the three months that ended 31 August 2021.

Jefferies highlighted a sharp increase in its investment banking business. While the financial services provider faced some challenges in its asset management division, the overall growth in investment banking brought substantial revenues to the latest quarter.

Rich Handler, the CEO of Jefferies, and Brian Friedman, the company’s President, commented: “We are humbled by and deeply grateful for the confidence and trust our clients have shown in us, not just this quarter, but over the years and decades we have worked to build the leading independent full-service global investment banking firm. Our results this quarter demonstrate that the relentless client focus of our amazing Jefferies team is the difference maker and our market position has reached a new level, particularly in Investment Banking.”

An unconfirmed report that hit Finance Magnates’ press desk says that Jefferies Financial Group, a Nasdaq-listed financial services provider, is allegedly shutting down its FX Prime Brokerage business.

No major details were disclosed as of press time. Finance Magnates has reached out to the company for confirmation about the matter, and it is waiting for a response to update the article with the statement from the firm accordingly.

Located in New York City, with offices in over 30 cities around the world, the firm provides clients with capital markets and financial advisory services, institutional brokerage, securities research, as well as wealth management and asset management.

In addition to providing research and execution services in equity, fixed income and foreign exchange markets, the company offers a full range of investment banking services, including underwriting, mergers and acquisitions, restructuring and recapitalization, as well as other advisory services.

Financial Results

In August 2021, Jefferies announced its financial results for three months and nine months ended 31 August 2021. The financial firm reported a substantial jump in Net Income as the number reached $407 million, or $1.50 per diluted share in the recent quarter.

For the nine-month period that ended 31 August 2021, Jefferies Financial Group’s Net Income attributable to common shareholders touched $1.34 billion.

Additionally, Jefferies Group LLC posted a 19% YoY jump in Net Revenue as the number reached $1.65 billion for the three months that ended 31 August 2021.

Jefferies highlighted a sharp increase in its investment banking business. While the financial services provider faced some challenges in its asset management division, the overall growth in investment banking brought substantial revenues to the latest quarter.

Rich Handler, the CEO of Jefferies, and Brian Friedman, the company’s President, commented: “We are humbled by and deeply grateful for the confidence and trust our clients have shown in us, not just this quarter, but over the years and decades we have worked to build the leading independent full-service global investment banking firm. Our results this quarter demonstrate that the relentless client focus of our amazing Jefferies team is the difference maker and our market position has reached a new level, particularly in Investment Banking.”