Bloomberg News

Jefferies Adds Goldman Sachs’s Chadwick for U.S. Rates Sales

June 27, 2011

(Updates with compensation costs in third paragraph.)

June 27 (Bloomberg) -- Jefferies Group Inc., the investment bank that’s been expanding since the financial crisis, hired Brian Chadwick as a managing director for U.S. rates sales.

Chadwick, who will be based in Chicago, previously held a similar position at Goldman Sachs Group Inc., New York-based Jefferies said today in a statement. He also spent nine years at Lehman Brothers Holdings Inc., where he was a senior vice president in rates sales.

Jefferies is bulking up its fixed-income business by hiring corporate debt traders from banks including UBS AG, Morgan Stanley, Barclays Plc and Deutsche Bank AG. The firm’s compensation costs rose 12 percent to $431.9 million, or 59 percent of revenue, in its fiscal second quarter as staff expanded 14 percent to 3,222 from a year earlier.

Chadwick’s “experience, knowledge and strong relationships will significantly enhance our rates capabilities across the U.S.,” Christopher Bury and Dan Markaity, co-heads of global rates at Jefferies, said in the statement.

To contact the reporter on this story: Laura Marcinek in New York at lmarcinek3@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net


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