Jefferies Financial Group Stock Price, News & Analysis

Jefferies Financial Group Inc. (NYSE:JEF) announces the appointment of Matrice Ellis Kirk and Melissa Weiler to its Board of Directors as of July 1, 2021, expanding the board to twelve members, with nine being independent. CEO Rich Handler and President Brian Friedman express confidence in the new directors' experience and insights, which are expected to support Jefferies’ global business growth. Ellis Kirk brings a strong executive search background and extensive leadership roles, while Weiler has a solid history in asset management and credit fund oversight.

Jefferies Financial Group reported strong financial results for the second quarter ended May 31, 2021, with a net income of $353 million, translating to $1.30 per diluted share. The company achieved record net revenues of $1,617 million, up 56% year-over-year, alongside significant increases in investment banking revenues, which reached $1,034 million, a 227% increase compared to the same quarter last year. The Board declared a dividend of $0.25 per share, a 25% hike from the previous rate. The firm maintained a robust liquidity buffer of $8.3 billion, representing 16% of total assets.

Leucadia Asset Management (LAM) announced a strategic partnership with Strategic Vision Investment (SVI), a Hong-Kong based asset manager led by Ken Xu. This collaboration aims to leverage investor interest in Greater China, with LAM providing capital and support to SVI. Ken Xu, with 20 years of experience in Asian equity markets, previously held senior roles at prominent firms such as Point 72 and Goldman Sachs. SVI focuses on long-term investment opportunities across sectors, targeting mega trends that could yield significant value in the coming years.

Entrinsic Bioscience has secured $49 million in non-dilutive growth capital from Jefferies Group to support its innovative platform for developing functional ingredients and active pharmaceutical ingredients (APIs). This financing builds on previous investments, including significant backing from Johnson & Johnson. The funding will accelerate commercialization efforts for products targeting gastrointestinal, airway, and skin conditions. Aon Plc facilitated the financing by providing key insurance and valuation support for Entrinsic's intellectual property.

On May 20, 2021, Trumid announced a collaboration with Jefferies to enhance innovation in Emerging Markets credit trading. Jefferies will employ Trumid's Attributed Trading protocol to offer liquidity to its institutional clients. The partnership aims to improve client connectivity and trading efficiency. In Q1 2021, Trumid reported over 100% year-over-year growth in Average Daily Volume (ADV). This collaboration signifies Jefferies' commitment to expanding its footprint in emerging markets while leveraging Trumid's technological capabilities.

Topwater Capital, part of Leucadia Asset Management, has announced a strategic partnership with a major U.S. Endowment, which invested in its first-loss platform on May 1, 2021. This partnership secures additional capital over three years, prompting a 'hard close' of Topwater funds. Co-heads Travis Taylor and Bryan Borgia expressed excitement over the partnership, highlighting its potential to enhance their platform's offerings and support future allocations. The leadership at Leucadia Asset Management sees this collaboration as a significant milestone for Topwater's growth.

Jefferies Credit Partners announced the expansion of its capital formation capabilities with two senior hires, enhancing its investor relations team. Charles Byrne has been appointed as Global Head of Sales & Capital Formation, tasked with overseeing investment strategies and expanding direct lending initiatives. Andrew Gordon joins as Head of Strategic Accounts, focusing on delivering private credit solutions globally. This expansion coincides with the close of Jefferies Credit Partners Direct Lending Fund I and the launch of Fund II, aimed at providing senior secured loans to middle market companies.

Jefferies has appointed Linda Adamany and Mahnaz Safa to its International Limited Board of Directors, expanding the board to eight members, six of whom are independent. Adamany brings extensive financial experience, previously serving at BP and currently holding multiple directorships. Safa has nearly 30 years in financial services, including leadership roles at UBS and Citigroup. The CEO and President expressed confidence in their contributions to Jefferies’ continued growth and evolution in the global market.