Unlock the Editor’s Digest for free
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Remember 2025? Jefferies may be trying not to:
To Our Clients and Friends,
As we entered 2025, the world was expecting a year of rapid growth in capital markets and M&A activity. The first half of the year was, of course, challenging, as volatility and apprehension overcame the market.
So opens the end-of-year dispatch from chief executive Rich Handler and president Brian Friedman. And, after all, who can forget the H1 tumult of the Trump tariffs? Luckily things have been basically chill since then:
The second half, however, saw a broad recovery in capital markets and M&A activity, largely driven by the same reasons that have been driving optimism over the last twelve months: pent-up demand for deals, declining rates, resilience in the broader economy, meaningful disruption driven by tech innovation, and an increasing lighter-touch regulatory approach from the U.S. government.
Right.
They tell readers:
We are built to serve you, and we are hopeful that you, our clients, experience the urgency, creativity and passion of our team on a constant basis.
Urgency and creativity, of course, having never caused any issues.
Further reading:
— Jefferies was ‘defrauded’ by First Brands, says chief executive
— SEC probes Jefferies over First Brands
— US prosecutors probe last-ditch funding pleas before First Brands collapsed
Read the full article here