Anderson will cover financial institutions, the company said today in a statement. He previously served as managing director and U.S. head of financial institutions equity capital markets for UBS AG, where he managed over $47 billion of book- run equity offerings, according to the statement.
“The addition of such an experienced and respected capital markets banker in the financial institutions sector as Michael Anderson is part of our broader strategy to significantly expand our investment banking presence in the financial institutions business,” Benjamin D. Lorello, global head of investment banking and capital markets at Jefferies, said in the statement.
Jefferies has increased its headcount by more the 25 percent since 2008, taking advantage of the collapse of larger investment banks. Lorello joined the firm from UBS in June 2009 and led the defection of 36 health-care bankers from Zurich- based UBS to Jefferies. UBS, the largest Swiss bank by assets, accused Jefferies in a lawsuit of raiding the company. The suit was later settled.
Jefferies yesterday reported record investment-banking revenue and posted a sixth straight quarter of rising profit. Investment-banking revenue more than doubled to $256 million in the quarter ended May 31 from $120.8 million in the second quarter of 2009. Its stock has risen 1.9 percent this year before today after jumping 69 percent in 2009.
Anderson has more than 25 years experience covering equity capital markets and worked for Donaldson, Lufkin & Jenrette and Bank of America Corp. before his most recent position at UBS, Jefferies said.
To contact the reporter on this story: Laura Keeley in New York at email@example.com.