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SocGen to Buy Jefferies Bache Clients in Derivatives Push

Posted on 10 April 2015

Societe Generale SA, France’s second-biggest bank, agreed to take over most of the clients of Jefferies Group LLC’s Bache futures unit amid a push into derivatives. Jefferies, which is owned by Leucadia National Corp., is closing down the rest of the business, according to a statement Thursday from the New York-based firm.
SocGen will review Bache’s staff and may hire some, said a person with knowledge of the matter who asked not to be identified because the terms are confidential. The purchase follows SocGen’s acquisition in January of a financial industrial-metals portfolio from Barclays Plc. ……………………………………….Full Article: Source


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