Thu, May 26, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Jefferies Agrees to Acquire Hoare Govett from the Royal Bank of Scotland

Wednesday, February 01, 2012
Opalesque Industry Update: Jefferies announced today that it has agreed to acquire Hoare Govett and employ certain other professionals from The Royal Bank of Scotland Group plc.

With a history of serving clients for over 100 years, Hoare Govett is one of the UK’s most prominent corporate brokers. The acquisition includes the entire senior Hoare Govett corporate broking team, as well as certain other corporate broking, equity research, sales, trading and capital markets professionals necessary to continue to serve the needs of Hoare Govett’s large base of retained clients. In total, approximately 50 professionals will join Jefferies’ London office, including all current Hoare Govett Managing Directors. The acquired business will operate as Jefferies Hoare Govett.

In a joint statement, Richard B. Handler, Chairman and Chief Executive Officer of Jefferies, and Brian P. Friedman, Chairman of the Executive Committee of Jefferies, commented, “Our absorbing of Hoare Govett provides Jefferies with an exceptional opportunity to continue our growth in corporate broking and significantly expand the capabilities and reach of our established European Investment Banking and Equities businesses. Hoare Govett’s relationships and experience, combined with Jefferies’ sector and product expertise and hands-on approach, will enable us to provide the full benefits of the Jefferies global platform to our new clients. Combining one of the strongest M&A franchises on Wall Street, a robust lending and leveraged finance business, and a deep sector-focused coverage model with global distribution, Jefferies is uniquely positioned to efficiently serve our existing and new corporate clients with a full range of investment banking capabilities globally.”

David Weaver, President of Jefferies International Limited, Dominic Lester and Peter Bacchus, Joint Heads of European Investment Banking, added, “Hoare Govett is one of the oldest and most distinguished franchises in corporate broking. Joining forces affirms Jefferies' deep and long-term commitment to serving UK corporate clients. We anticipate a seamless transition and integration for our new clients into Jefferies' global platform, and look forward to welcoming our new employee-partners to Jefferies.”

Jefferies

Press Release

BM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Paul Tudor’s hedge fund trims fee amidst poor performance, keep investors[more]

    Komfie Manalo, Opalesque Asia: Paul Tudor’s $11.6bn hedge fund firm Tudor Investment Corp. announced on Monday it would slash down fees of one of its biggest fund to 2.25% of assets and 25% of profits amidst backlash arising from poor performa

  2. Ares Capital to buy American Capital in $3.4 billion deal[more]

    From PIOnline.com: Ares Management's business development company Ares Capital Corp. is buying troubled BDC American Capital for $3.43 billion, said a joint news release by the BDCs and another release by Ares Management. Ares Capital Corp.'s assets are expected to grow to about $13.2 billion when t

  3. Performance - Hedge fund ETFs take a battering, Have long-short credit funds delivered?[more]

    Hedge fund ETFs take a battering From ETFStrategy.co.uk: It was a blow for the hedge fund world when Hillary Clinton’s son-in-law Marc Mezvinsky announced he would be closing his Greek-focused fund after it plummeted in value by 90%, just two years after it launched. For passive investor

  4. West Virginia objects to Alpha Natural sale to hedge fund[more]

    From AP/Heraldcourier.com: West Virginia's environmental authority has filed an objection to the proposed $500 million sale of Alpha Natural Resources' assets to a hedge fund, arguing that the deal could leave the state holding hundreds of millions in reclamation liabilities. The Register-Hera

  5. Launches - Man Group and American Beacon launch new emerging debt fund, Nikko AM launches new Japan equity UCITS fund[more]

    Man Group and American Beacon launch new emerging debt fund American Beacon Advisors, an experienced provider of investment advisory services to institutional and retail markets, launched the American Beacon GLG Total Return Fund today. The Fund became effective May 20. The America