Jefferies Said to Hire Joseph, Groothuis to Lead EM Trading

  • Pair are said to join Jefferies as unit's leaders on Dec. 1
  • They're among other Nomura staff moving to Wall Street firm

Jefferies Group LLC hired Jonathan Joseph from Nomura Holdings Inc. to lead an emerging-market trading unit with Adam Groothuis, as the Wall Street firm draws on the Japanese bank’s staff to build out its team, according to a person with knowledge of the moves.

Joseph, a managing director in sales at Nomura, and Groothuis, who’s led the Tokyo-based firm’s Latin American credit-trading unit, will begin Dec. 1, said the person, who asked not to be identified discussing personnel matters. Bloomberg reported in September that Groothuis was in talks to join Jefferies. Richard Khaleel, a Jefferies spokesman, declined to comment on the moves, as did Nomura’s Jennifer Will.

The two traders, who also worked together at Royal Bank of Scotland Group Plc, JPMorgan Chase & Co. and Bear Stearns Cos., will lead a team that includes several former Nomura traders and sales people who joined Jefferies in recent weeks or will be starting soon, the person said. Javier Kulesz, a managing director and Nomura’s senior desk analyst for Latin America, also will take a similar role at Jefferies in December, the person said. Kulesz declined to comment.

Latin America

Jefferies, which is owned by Leucadia National Corp., fired nine traders, sales people and strategists last month from its Latin America group as it took on the Nomura team, a person with knowledge of the matter said at the time.

Nomura’s Argentina and Venezuela bond trader, Ed Jobst, started at Jefferies on Nov. 2. The New York-based bank also added Nomura’s emerging-market credit strategist Jefferson Finch, salesmen Alexander Atallah and John Salvesen, and bond traders Justin Weinberg and Benjamin Gird, records from the Financial Industry Regulatory Authority show.

Nomura’s other trading units also have seen changes in recent weeks, with Sandor Hau, head of the bank’s high-yield trading desk, leaving along with trader David Austen, people with knowledge of the matter said Oct. 28. Peter Parent, head of credit sales, and salesman Patrick Lenhart also left Nomura to join Guggenheim Partners LLC, Bloomberg reported last month.

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