FONT-SIZE Plus   Neg

Leucadia's Jefferies Posts More-than-doubled Profit In Q3 On Investment Banking

Jefferies Group LLC, a subsidiary of diversified holding company Leucadia National Corp. (LUK), reported Tuesday that its third-quarter net earnings attributable to Jefferies more than doubled to $83.82 million from $41.17 million last year.

Net revenues climbed to $800.69 million from $654.45 million last year. In the quarter, Commissions and other fees declined, while principal transactions improved. Investment banking revenues climbed to $475.70 million from prior year's $294.93 million.

Rich Handler, Chairman and Chief Executive Officer, and Brian Friedman, Chairman of the Executive Committee, said, "Our third quarter performance was led by a quarterly record $476 million in Investment Banking revenues. We have been focused on building our Investment Banking business for many years, with the last two years affording us yet another important opportunity to recruit and expand upon our already broad footprint. The continued successful development of our investment banking platform should lead to greater stability in our results and compounding benefits to our overall platform."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
10 Worst Places To Raise A Family Whether you are a young couple building a nest or seasoned parents looking for a change of scenery, there are number of places around the country that should be avoided, according to personal finance website WalletHub. They looked at mainly five categories for... A passenger has filed a lawsuit against Canadian budget airline Sunwing Airlines for serving him cheap sparkling wine instead of champagne on board a flight, according to media reports. The Canadian passenger, Daniel MacDuff, reportedly boarded his Sunwing flight to Cuba in February, on a flight package that advertised a complimentary on-board champagne toast. Senate Health Committee Chairman Lamar Alexander, R-Tenn., and ranking member Patty Murray, D-Wash., announced Thursday that twenty-two other Senators are cosponsoring their bipartisan plan to provide short-term stability to Obamacare. The bipartisan bill includes a two-year extension of the cost-sharing...
comments powered by Disqus
Follow RTT