Jefferies Group Inc. (JEF:US) hired Morgan Stanley (MS:US)’s Peter Bowden to run its midstream investment-banking unit as the firm expands its energy business, according to a person with knowledge of the move.
Bowden will be a managing director based in Houston and report to Ralph Eads, a Jefferies vice chairman and global head of energy investment banking, said the person, who asked not to be identified because the move hasn’t been made public. He previously ran midstream investment banking at New York-based Morgan Stanley, according to the person.
Jefferies has been adding to its natural resources and mining advisory business, opening a Toronto office and hiring Credit Suisse Group AG banker Steven Latimer as its head. Chief Executive Officer Richard Handler, 51, has recruited bankers and traders as rivals retrenched after the financial crisis.
The firm’s biggest advisory assignments this year include Cordillera Energy Partners III LLC’s $2.85 billion sale to Apache Corp. (APA:US) and Williams Partners LP (WPZ:US)’s $2.5 billion purchase of Caiman Eastern Midstream LLC.
Jefferies fell 2.6 percent to close at $12.58 in New York. The firm has dropped 8.5 percent this year, compared with a 1.6 percent gain in the Standard & Poor’s 500 Index.
To contact the reporter on this story: Laura Marcinek in New York at email@example.com
To contact the editor responsible for this story: David Scheer at firstname.lastname@example.org