- Sage Kelly will be head of investment banking at trading firm
- Previous effort to expand M&A at Cantor was cut short in 2012
Cantor Fitzgerald LP, the brokerage run by Howard Lutnick, is hiring former Jefferies Group banker Sage Kelly, according to a person with knowledge of the matter.
Kelly, 44, will be head of investment banking at New York-based Cantor, said the person, who asked not to be identified because the details are being finalized. Kelly, who ran health-care banking at Jefferies, resigned in 2014 after his divorce became tabloid fodder.
Cantor Fitzgerald, known for trading stocks and bonds rather than merger-advisory work, has a small health-care group, which added three bankers last year, according to a statement at the time. A previous attempt to expand the investment-banking group to compete in more industries was cut short in 2012, and the firm has exchanged lawsuits with a former head of banking over his contract.
The New York Post reported Kelly’s hiring late Sunday, calling him the “favorite banker” of its gossip page. The allegations from his divorce got so much attention at the time that Jefferies Chief Executive Officer Richard Handler asked his health-care bankers to join him in taking drug tests. Handler then sent a memo saying that the tests were negative and accusing rivals at larger banks of spreading “lurid details” of allegations he called “pure fabrication.”
A person who answered Kelly’s phone Monday said he wasn’t available and hung up.