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Jefferies Reduces FX Prime Brokerage and Two of the Unit’s Top Executives Depart

  • Mulvihill, Mazzarese leave to form new digital asset venture
  • Bank says prioritizing where it can best serve clients in FX
Jefferies headquarters in New York.

Jefferies headquarters in New York.

Photographer: Amir Hamja/Bloomberg

Jefferies Financial Group Inc. is reducing its foreign exchange prime brokerage business and two of the unit’s top executives are departing to join the cryptocurrencies industry. 

Brandon Mulvihill, who led the foreign exchange prime brokerage business globally, and Anthony Mazzarese, who oversaw distribution for the division, are forming a new venture in the digital asset space, according to separate posts on LinkedIn. Their last day at Jefferies was Friday.