Jefferies

Selective bets on undervalued stocks are paying off as unloved value and cyclical strategies fall into favor.

After an SEC lawsuit, Dan Kamensky now faces criminal charges including securities fraud, extortion and obstruction of justice.

The saga lays bare the rough-and-tumble ways of distressed investing, where investors look to pull every lever in their favor.

Peg Broadbent's death struck a chord on Wall Street, where thousands of traders deemed essential are still heading into work every day as the pandemic ravages New York City.

The firm added its 16th office this year, part of its bid to attract talent from rival firms.

The partnership aims to provide exposure to areas such as middle-market private equity, real estate and infrastructure.

The change will boost the firm’s “ability to reach a dramatically larger audience,” said CEO Stephen Schwarzman.

The private equity firm’s credit arm grew significantly with the addition of a new insurance platform and an energy investment management unit.

Energy was likely a “headwind,” analysts wrote.

This is the second time Jefferies has poached Miami-based adviser talent from the wirehouse.

The group generated over $7 million in annual revenue, On Wall Street learns exclusively.

Robert Peyreigne was hired to fill the role after Michael Armstrong departed Jefferies for RBC earlier this year.