Jefferies Financial Group Inc.

Jefferies Financial Group Inc. is a U.S.-headquartered global investment banking and capital markets firm with two reportable segments: Investment Banking and Capital Markets, and Asset Management. It advises companies and sponsors, underwrites equity and debt, trades equities and fixed income for institutional clients, and manages alternative investment strategies through directly owned and affiliated managers.

98,2 %

6,3 %

+2,9 %

— Jefferies Financial Group Inc.
%
Investment Banking35% Advisory, equity underwriting, debt underwriting and related capital raising services.
Equities30% Cash equities, electronic trading, derivatives, convertibles, prime services and research.
Fixed Income20% Trading and client solutions across rates, credit, structured products and financing.
Asset Management15% Alternative investment management and seeding of affiliated strategies, plus proprietary investments.

Jefferies primarily serves public companies, private companies, financial sponsors, institutional investors and...

  • Corporate issuersprimary

    Public and private companies buy advisory, underwriting and financing for M&A, growth and refinancing.

  • Institutional investorsprimary

    Mutual funds, hedge funds, pension plans and insurers buy execution, research and trading liquidity.

  • Financial sponsorsprimary

    Private equity and sponsor-backed borrowers use leveraged finance, syndication and capital markets execution.

  • Asset managerssecondary

    Hedge funds and money managers use prime brokerage, outsourced trading and financing services.

  • Government and municipal issuerssecondary

    Public-sector borrowers access debt underwriting and structured finance solutions.

Jefferies operates globally from headquarters in New York, with regional headquarters in London and Hong Kong...

  • •Headquartered in New York with regional hubs in London and Hong Kong
  • •Investment banking coverage spans the Americas, Europe/Middle East and Asia-Pacific
  • •Equities and fixed income trading are run across global market centers
  • •Client execution depends on local market access, regulation and liquidity
  • •Asset management and credit platforms invest and raise capital globally

Jefferies is focused on deepening its investment banking franchise, improving execution in equities and fixed income,...

01
Expand investment banking and capital markets sharemedium-term

Higher client penetration in advisory and underwriting supports franchise breadth and fee generation.

02
Grow credit and alternative asset managementmedium-term

These platforms diversify revenue away from pure transaction activity and deepen client relationships.

03
Preserve balance-sheet flexibility and liquidityshort-term

A liquid balance sheet supports trading, financing and regulatory capital needs in volatile markets.

04
Return capital while simplifying legacy assetsshort-term

Shareholder returns and portfolio cleanup improve capital efficiency and reduce complexity.

Jefferies is exposed to market, credit and liquidity risk because a large part of its business depends on trading,...

high

Market risk on trading and principal positions

Equities, fixed income, derivatives and loans are marked to market or exposed to price changes.

Scope
Trading inventory, derivatives, loans and securities positions
Materiality
high
high

Credit and counterparty risk

Client financing, settlement and derivative exposures can become uncollectible if counterparties default.

Scope
Prime brokerage, margin lending, secured financing and derivatives
Materiality
high
high

Liquidity and funding risk

The firm relies on market access and short- and long-term funding to support its balance sheet.

Scope
Broker-dealer funding, inventory financing and capital markets volatility
Materiality
high
medium

Regulatory capital constraints

Broker-dealer and UK prudential requirements can limit capital withdrawals and business flexibility.

Scope
Jefferies LLC, JFSI and Jefferies International Limited
Materiality
medium
medium

Goodwill and investment impairment

Valuations depend on future profitability, trading volumes and capital markets activity.

Scope
Investment banking, equities, fixed income, asset management and other investments
Materiality
medium
Fair value measurement of trading assets and derivatives
Impacts revenue volatility and balance sheet carrying values
Goodwill impairment testing
Could create large non-cash charges if reporting unit values decline
Equity method investment impairment
Can affect other income and reduce carrying value
Net interest allocation across segments
Affects comparability of Investment Banking, Equities and Fixed Income results

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: 28/04/2026