Turmoil continues to roil challenger investment bank Jefferies, with more high-profile departures on the eve of Monday’s bonus payouts.
The latest major names to leave include Richard Johnson, director of research; gun hedge fund sales boss Matt Moffatt, a key adviser to Regal Funds’ Phil King; Andrew Norman, head of equities; Ed Clegg, head of sales; and David Summerfield, head of sales trading.
The Wall Street upstart, which climbed into Australia’s top five within five years, has now lost nearly a dozen key figures. Those departing attribute the exodus to the poaching of major figures from Goldman Sachs and a changing culture.
In October, Capital Brief broke the key story on Jefferies' recruitment of Goldman banking analyst Andrew Lyons — part of a dramatic overhaul led by Mario Argyrides, himself poached from Goldman in April.
