Jefferies Hires BofA’s Frangenberg to Head Americas Chemicals

Jefferies Group Inc. (JEF), the investment bank that’s been expanding since the financial crisis, hired Gunter Frangenberg as a managing director and head of Americas chemicals-investment banking.

Frangenberg was a managing director in Bank of America Corp. (BAC)’s multi-industries investment-banking unit, specializing in the chemicals industry, New York-based Jefferies said today in a statement. Frangenberg will be a managing director in the global industrials investment-banking group and based in New York.

Jefferies has been building its industrials investment - banking division by hiring managing directors from some of the biggest firms. The company announced the hiring in October of Goran Avdicevic from JPMorgan Chase & Co. (JPM) to focus on transportation and logistics. Jefferies added Thomas Fetzer from UBS AG (UBSN) in August for coverage of capital goods clients in Germany and Central Europe.

“The addition of Gunter Frangenberg is part of our continued build-out of our global industrials investment-banking business, which has included the addition of seven managing directors across the United States and Europe during the last 18 months,” Benjamin D. Lorello, global head of investment banking and capital markets, said in the statement

To contact the reporter on this story: Laura Marcinek in New York at lmarcinek3@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

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