NEW YORK, February 22, 2006 — Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced the hiring of a six-person team of industry veterans to enhance its prime brokerage unit. The group will be led by Glen C. Dailey, who will serve as Head of Prime Brokerage Services. The addition of this group meaningfully expands Jefferies’ overall commitment to being a significant provider of prime brokerage services to hedge funds and complements the firm’s leading sales, trading and research platform in serving the institutional investor community.
This team of senior professionals has extensive experience on Wall Street and all come from Banc of America Securities. Before joining Jefferies, Mr. Dailey was a Managing Director and the Chief Operating Officer of Prime Brokerage Services at Banc of America Securities.
He co-founded the prime brokerage business at Montgomery Securities prior to its acquisition by Bank of America.
The other members of the group and their previous roles in Prime Brokerage at Banc of America include: John F. Kunze, Managing Director and Head of Technology; Evan P. Gevarter, Managing Director and Head of Relationship Management; Michael S. Hill, Principle and Senior Relationship Manager; R. Penn Miller-Jones, Managing Director and Senior Salesman; Christopher A. Bianchi, Principle and Senior Operations Manager.
“We see a vast opportunity to meet the needs of small and mid-sized hedge funds who are currently being underserved by Wall Street,” said Richard B. Handler, Chairman and Chief Executive Officer of Jefferies. “With his substantial experience and extensive relationships, Glen Dailey is the perfect person to help Jefferies build a prime brokerage franchise, just as he first did at Furman Selz, then Montgomery Securities and Banc of America. Integrating this expanded prime brokerage team with our leading equity sales, trading and execution business has huge potential,” he added.
“I am very excited to join Jefferies’ thriving platform and look forward to building this critical part of the business for a firm that is a pioneer and leader on Wall Street,” commented Mr. Dailey. Jefferies has been serving institutional investors in equities since 1962 and has grown to be one of the leading firms providing liquidity and best execution to a broad group of customers around the world. The firm makes markets in over 5,000 stocks and trades the securities of more than 8,500 companies. Jefferies is a top ten brokerage in both NYSE and NASDAQ trading, and, through its affiliate Jefferies Execution Services, executes nearly 9% of the average daily reported volume on the NYSE.
Jefferies’ previous Head of Prime Brokerage Services, R. David Conover, will focus on his role as the firm’s Head of Correspondent Clearing, a position he held in addition to being Head of Prime Brokerage Services. The new group will be based in Jefferies’ New York headquarters office.
About Jefferies
Jefferies, a global investment bank and institutional securities firm, has served growing and mid-sized companies and their investors for over 40 years. Headquartered in New York, with more than 25 offices around the world, Jefferies provides clients with capital markets and financial advisory services, institutional brokerage, securities research and asset management. The firm is a leading provider of trade execution in equity, high yield, convertible and international securities for institutional investors and high net worth individuals. Jefferies & Company, Inc. is the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF; www.jefferies.com).
Contact:
Brian Hickey
Walek & Associates
212-590-0529
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