Jefferies Head of U.S. M&A Tedesco Departs for Tech Firm

Michael Tedesco, head of U.S. mergers and acquisitions and global technology dealmaking at Jefferies Group LLC, is leaving the investment bank to join a technology startup.

Tedesco, 47, will be chief strategy officer of Volo International Inc., founder and Chief Executive Officer Haydar Haba said today in a phone interview. San Francisco-based Volo owns, a social-media website for businesses. Tedesco starts his new job next week, Haba said.

Other bankers have moved to technology companies this year. On July 1, microblogging service Twitter Inc. named Anthony Noto, formerly of Goldman Sachs Group Inc., as chief financial officer. Uber Technologies Inc., a ride-sharing business, hired Cameron Poetzscher from Goldman Sachs in March as its head of corporate development.

Tedesco had joined Jefferies in 2011 from Citigroup Inc., where he worked for 16 years and was global head of technology M&A. Jefferies spokesman Richard Khaleel declined to comment. The investment bank is owned by Leucadia National Corp.

Haba, who founded Volo a year ago, said he has raised $2.5 million and is in talks with investors for $10 million in financing.

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