Jefferies boosted by equity and fixed income revenues

Jefferies saw significant gains year-on-year in its equities and fixed income businesses.

Jefferies saw net revenues increase by 45% in the fourth quarter ending 30 November, following increased sales in its equities and fixed income businesses.

Net revenues totalled $742 million, of which $415 million came from its investment banking business.

Equities revenues reached $176 million, an increase of 43% year on year, and fixed income revenues were $149 million, in comparison to just $9.4 million last year.

“We are pleased with our fourth quarter results, which reflect a strong performance in investment banking, a solid performance from our core equities business, and a continuing significant improvement in our fixed income results,” stated Rich Handler, chairman and CEO of Jefferies and Brian Friedman, chairman of the executive committee.

“Our strong finish to the year, combined with the continued positive momentum in all of our businesses, positions us well for 2017.”