Jefferies Hires Red Alder’s Laub to Head Prime Brokerage

Jefferies Group LLC, the investment bank owned by Leucadia National Corp. (LUK), hired John Laub from hedge-fund firm Red Alder LLC to head its prime brokerage business.

Laub is scheduled to join Jefferies in about two weeks and will replace Glen Dailey, according to a person familiar with the matter, who asked not to be identified because the appointment hasn’t been made public yet. Richard Khaleel, a spokesman for Jefferies, confirmed the appointment and declined to provide further details.

Laub was formerly chief financial officer of Red Alder, a New York-based long-short equity hedge-fund manager, said the person, who asked not to be named because the information is private. Before that, he was head of prime brokerage in the Americas at UBS AG and worked at Ziff Brothers Investments LLC.

Laub will be based in the New York headquarters of Jefferies and report to Peter Forlenza, global head of equities, said the person.

Dailey and Red Alder didn’t immediately return phone calls seeking comment.

To contact the reporter on this story: Kelly Bit in New York at Christian Baumgaertel, Sree Vidya Bhaktavatsalam

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