Home Most Popular Investing Jefferies Sets its Sights on Canada’s Financial Frontier

Jefferies Sets its Sights on Canada’s Financial Frontier

Jefferies Sets its Sights on Canada’s Financial Frontier

Jefferies Financial Group Inc. JEF has thrown the financial gauntlet and established a new investment banking (IB) and capital market unit in Canada. Its bold move to pursue international expansion was made in order to cater to the rising needs of corporate, institutional and government clients across the country. This expansion will offer an extensive range of expertise on advisory, M&A advisory, equity and debt capital markets, risk solutions, equity research, and sales and trading across all sectors in Canada.

As part of this audacious effort, over 40 candidates will be joining across IB, equity research, and sales and trading units.

The company is building on its recent expansion initiatives in France, Spain, Australia, Brazil, and the Middle East. JEF currently operates through 44 offices in more than 20 countries. Earlier this year, it announced a major expansion with Japan’s Sumitomo Mitsui Banking Corp, broadening the cooperation between the two firms in M&A advisory services and within their respective equity and debt capital markets businesses.

The Canadian IB unit will be led by a team of seasoned professionals, including Bruce Rothney as CEO, John Manley as chairman, Ron Lloyd as deputy chairman, Trond Lossius as deputy chairman and head of M&A, and Erik Charbonneau as head of Investment Banking.

Rich Handler, CEO, and Brian Friedman, president, of JEF, are excited about the partnership and believe that Jefferies is in an ideal position to continue expanding its capabilities and talent in the Canadian market.

Bruce Rothney, CEO of Jefferies Canada, highlighted the company’s focus on providing the best advice to clients, praising its long-term leadership, investment in talent, and exceptional work for clients that has positioned Jefferies as one of the few leading global investment banking firms. Rothney also emphasized Canada’s emergence as one of the largest and fastest-growing economies, with standout sectors such as technology, healthcare, financial services, energy and power, telecom and media, and consumer that align perfectly with Jefferies.

Over the past six months, shares of Jefferies have gained 17% compared with the industry’s rise of 3.3%.


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Currently, Jefferies carries a Zacks Rank #3 (Hold).

Discover Other Finance Stocks

While Jefferies makes headlines, there are other finance stocks commanding attention. For instance, Blue Owl Capital Corporation OBDC and Globe Life GL are making waves in the finance space.

OBDC’s earnings estimates for 2023 have been revised 2.1% upward over the past 30 days. In the past six months, Blue Owl’s shares have gained 9.3%, and it currently boasts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Earnings estimates for GL have been revised marginally upward for 2023 in the past 30 days. Shares of Globe Life have risen 16.7% in the past six months, and the company currently carries a Zacks Rank #2 (Buy).

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Jefferies Financial Group Inc. (JEF) : Free Stock Analysis Report

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