Jefferies Sells Bonds to Expand as Wall Street Slumps
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Jefferies Group Inc., the New York investment bank that raised half a billion dollars in a bond sale, will plow ahead with expansion as earnings across Wall Street slide.
The firm, which boosted headcount 31 percent in less than two years, is still hiring “selectively” to build businesses ahead of an economic recovery, Chief Executive Officer Richard Handler, 49, said in an interview after yesterday’s sale. The funds will be used for growth and refinancing, he said.