Jefferies Said to Hire Former Citigroup Sales Trader in London

  • Garrard will be senior sales trader for Jefferies in London
  • Barclays said to recently hire Matthew Stanton from Goldman

Jefferies Group LLC hired Steve Garrard, formerly head of equity sales trading for Europe, Middle East and Africa at Citigroup Inc., according to two people familiar with the decisions.

Garrard will start soon at Jefferies in London as senior sales trader, said the people, who asked not to be named, citing confidentiality.

Jefferies’ revenue from equities trading increased 18 percent to $203.1 million in the third quarter, the New York-based bank said last month in a statement. Net income fell 97 percent to $2.5 million from a year earlier. Spokespeople for Jefferies and Citigroup declined to comment, as did Garrard.

Garrard, a 16-year veteran at Citigroup, isn’t the only recent sales trader to jump to a new company. Barclays Plc was said to hire Matthew Stanton from Goldman Sachs Group Inc. as head of sales trading in Europe. He replaces Nick Johnston, who joined broker Investment Technology Group Inc. in London in September.