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Jefferies Moves Banking Services to Cloud in Deal With Amazon

  • Four-year deal allows bank to transfer tech, data to the cloud
  • Move follows Nasdaq and other finance firms in transformation
amazon cloud large lede
Photographer: Jim Young/Bloomberg

Jefferies Financial Group Inc. is moving its information-technology services to the cloud in partnership with Amazon.com Inc. 

The move is the latest among financial firms that started to expand into cloud-based software and data analytics in recent months. The four-year agreement with Amazon Web Services allows Jefferies to transfer its core business systems, internal and customer-facing applications, IT resources and data to AWS, according to a statement Tuesday.