Jefferies Hiring Spree Shows Outsourcing Boom on Wall Street

Jefferies Financial Group Inc. has begun the process of hiring more than a dozen traders in order to capitalize on a quiet shift in Wall Street money management: the outsourcing of the buy-side trader.

The New York-based firm has already recruited nine additional traders for the effort and plans to bring eight more on board. With the extra staff, Jefferies is planning to push into offering outsourced trading for fixed-income products in addition to the equities desk it’s had for years.