Jefferies’s Fixed-Income Co-Head Eveland Said to Leave Bank

Johan Eveland, co-head of fixed-income at Jefferies Group, has left the bank, a person with knowledge of the matter said.

Fred Orlan is taking over as sole head of the bond-trading division at the New York-based bank, said the person, who asked not to be identified discussing personnel matters. Eveland didn’t return an e-mail and phone call seeking comment.

Eveland was one of the supervisors of Jesse Litvak, a Jefferies mortgage-bond trader who was convicted last March of securities fraud for lying to clients. William Jennings, the other former co-head of fixed-income, was “permitted to resign” last year, according to regulatory records. Eveland’s departure wasn’t related to the investigation, the person said.

Litvak is appealing his two-year prison sentence. Asset-Backed Alert, a newsletter, reported Eveland’s exit earlier Friday.

Jefferies, which is owned by Leucadia National Corp., agreed last year to pay $25 million to settle U.S. probes of suspected abuses in the trading of mortgage-backed securities.

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