Jefferies Financial Group

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search

Jefferies Financial Group Inc.
FormerlyLeucadia National Corporation (1979–2018)[1]
Talcott National Corporation (1968–1979)
Company typePublic
IndustryFinancial services
Founded1979; 47 years ago (1979)
Founders
  • Ian M. Cumming
  • Joseph S. Steinberg
HeadquartersNew York City
Key people
Richard B. Handler (CEO)
Brian P. Friedman (president)
Joseph S. Steinberg (chairman)[2]
RevenueIncrease US$7.03 billion (2024)
Increase US$1.01 billion (2024)
Increase US$669 million (2024)
Total assetsIncrease US$64.4 billion (2024)
Total equityIncrease US$10.2 billion (2024)
Number of employees
7,822 (2024)
Websitejefferies.com
Footnotes / references
[3]

Jefferies Financial Group Inc. is an American financial services company based in New York City. It is listed on the New York Stock Exchange and is a part of the Fortune 1000.[4][5][6]

Investments

[edit | edit source]

The company's major holdings are as follows:[2]

Financial Services

[edit | edit source]
  • Jefferies Group (100%) - investment banking & capital markets
  • Berkadia Commercial Mortgage[7] (50/50 joint venture with Berkshire Hathaway) - commercial mortgage banking, investment sales and servicing
  • HomeFed[8] (65% ownership) - Builder of Master Planned Communities, Income Properties, Land Holdings
  • FXCM (49.9%) - online foreign exchange trading
  • Foursight Capital[9] (100%) - vehicle finance

Others

[edit | edit source]
  • HRG Group (23%) - insurance and consumer products
  • Vitesse Energy (96%) - oil and gas exploration and development
  • Juneau Energy (98%) - oil and gas exploration and development
  • Garcadia Holdings (75%, Joint venture with Ken Garff Automotive Group) - automobile dealerships
  • Linkem (57%) - fixed wireless broadband services
  • Golden Queen (35%) - a gold and silver mining project
  • Idaho Timber (100%) - manufacturing
  • National Beef Packing Company (79%) - food producer

History

[edit | edit source]
  • In 1970, Ian Cumming and Joseph S. Steinberg both graduated from Harvard Business School and went to work for Carl Marks & Company, an investment bank.[10]
  • In 1979, they gained control of Talcott National Corporation, sold the James Talcott Factors division, and, in 1980, they renamed the company Leucadia.[10]
  • In 1984, the company made a $61 million profit on its $77 million investment in Avco Corporation by forcing the sale of the company to Textron.[10]
  • In 1991, the company acquired insurer Colonial Penn from Florida Power & Light for $150 million.[11]
  • In 1997, the company sold the life insurance division of Colonial Penn to Conseco for $460 million[12] and sold the auto insurance division of Colonial Penn to GE Capital for $950 million.[13]
  • In 1998, the company sold Charter National Life Insurance and Intramerica Life Insurance to Allstate.[14]
  • In 2002, the company received a 44% stake in WilTel Communications Group as a result of a bankruptcy reorganization.[15]
  • In May 2003, the company made an offer to acquire the remaining shares of WilTel Communications Group that it did not already own.[16]
  • In August 2003, after increasing its offer, the company acquired the remaining shares of WilTel Communications Group.[17]
  • In September 2003, the company acquired RehabWorks.[18]
  • In January 2004, the company financed Pershing Square Capital Management, a hedge fund managed by Bill Ackman.[19]
  • In July 2004, the company sought, but failed, to buy a controlling stake in MCI Communications.[20] In September 2004, the company sold its stake in MCI for a $20 million profit.[21]
  • In 2005, the company sold WilTel Communications Group to Level 3 Communications for a $180 million profit.[22]
  • In 2007, the company acquired ResortQuest International from Gaylord Hotels for $35 million.[23]
  • In 2009, the company entered into a 50/50 joint venture with Berkshire Hathaway called Berkadia, which acquired the North American loan origination and servicing business of Capmark Financial Group.[24]
  • In 2010, the company sold ResortQuest International to Wyndham Worldwide for $56 million in cash.[25]
  • In 2011, the company acquired a 79% interest in National Beef Packing Company for $867.9 million.[26][27]
  • In 2012, the company proposed building a $3 billion syngas facility in south Chicago to convert coal and petroleum waste into natural gas; however, the plant never received legislative approval.[28]
  • In 2013, the company merged with Jefferies Group and Richard Handler became chief executive officer of the company.[29]
  • During the same year, KeyBank made a sub-servicing agreement with Berkadia Commercial Mortgage on the CMBS primary servicing portfolio it is acquiring from Bank of America. It also acquired Berkadia’s $10 billion special servicing portfolio.[30]
  • In 2015, the company made an investment in FXCM after FXCM suffered losses due to the appreciation of the Swiss Franc.[31]
  • In 2016, the company restructured its investment in FXCM.[32]
  • In May 2018, the company was renamed Jefferies Financial Group.[4][5]

References

[edit | edit source]
  1. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  2. ^ a b Leucadia National Corporation 2017 Form 10-K Annual Report
  3. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  4. ^ a b Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  5. ^ a b Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  6. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  7. ^ https://berkadia.com/
  8. ^ https://homefedcorporation.com/
  9. ^ https://www.foursight.com/
  10. ^ a b c Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  11. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  12. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  13. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  14. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  15. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  16. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  17. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  18. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  19. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  20. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  21. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  22. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  23. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  24. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  25. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  26. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  27. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  28. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  29. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  30. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  31. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  32. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
[edit | edit source]
  • Lua error in Module:Official_website at line 94: attempt to index field 'wikibase' (a nil value).
  • Business data for Jefferies Financial Group:


Lua error in Module:Authority_control at line 153: attempt to index field 'wikibase' (a nil value).

Retrieved from "http://70.231.62.181/index.php?title=Jefferies_Financial_Group&oldid=7963284"