Jefferies

What Jefferies does

Jefferies Financial Group Inc. (NYSE: JEF) is a publicly traded, full-service global investment banking and capital markets firm headquartered in New York, founded in 1962 and operating from more than 45 offices across the Americas, EMEA and Asia-Pacific with 6,175 employee-partners as of November 2025 (including more than 1,800 investment banking professionals). The firm is structured as an integrated platform of six core service lines: Investment Banking (M&A advisory, equity and debt capital markets, capital structure solutions, private capital advisory), Global Research & Strategy (covering 3,750+ stocks plus fixed income, macro and sustainability strategy), Equities (cash equities, electronic trading, equity derivatives, convertibles, prime services, corporate access), Fixed Income (leveraged credit, investment grade corporates, macro credit, structured solutions, emerging markets, municipal, securitized markets, government and agency), Alternative Asset Management (through the Leucadia Asset Management sub-brand), and Wealth Management.

The firm's core technology stack centers on a top-ranked Global Algorithmic Suite spanning 45 countries and 100+ liquidity destinations, a self-clearing Prime Brokerage platform with global access to over 40 markets and SSAE Type II certification, an Outsourced Trading desk walled off for buy-side clients with access to over 150 trading partners, designated Primary Dealer capabilities with the Federal Reserve Bank of New York and equivalents in Germany, the Netherlands, Portugal and Slovenia, and an evidence-based equity research platform combining alternative data, web-scraping, credit card and web-traffic data with expert panels. Convertibles trading alone accounts for 12%+ global market share.

Jefferies' revenue model is transaction-based across multiple streams: M&A and advisory fees, equity and debt capital markets underwriting fees, equities and fixed income sales/trading commissions and spreads, prime brokerage financing and securities lending income, Leucadia Asset Management management and incentive fees, and wealth management advisory and brokerage fees. The firm served as bookrunner on roughly one out of every four U.S. IPOs and closed $3.1 trillion in transactions between 2021 and 2025. Q2 2026 net revenue was $2,206 million, up 35% year-over-year, with investment banking revenue up 58% to $1,207 million.

Name

Jefferies

Legal name

Jefferies Financial Group Inc.

Website

https://jefferies.com

Company type

Public

Founded year

1962

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Jefferies is a publicly traded global investment banking and capital markets firm (NYSE: JEF) providing M&A advisory, equity and debt underwriting, equities and fixed income trading, prime brokerage, research, alternative asset management and wealth management services to corporates, sponsors, sovereigns, hedge funds and high-net-worth clients across 49 countries.

Ownership category

akta.pro rank

Product category

Investment Banking & Capital Markets

NAICS

Investment Banking and Securities Intermediation (52315), Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

akta.pro secondary industries

Fairness Opinions & Independent Financial Advice (BPAHAOAF), Distressed M&A & Special Situations Advisory (FSAEAGAG)

Keywords

• Investment banking
• Capital markets
• Equities trading
• Prime brokerage
• Wealth management

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Investment Banking Advisory Fees: M&A advisory, restructurings, capital structure solutions, private capital advisory and other advisory mandates; fees are transaction-based and recognized on close. Senior-led teams deliver tailored engagements to corporates, sponsors and sovereigns.
2. Equity Capital Markets Underwriting Fees: Underwriting and placement fees from IPOs, follow-on offerings, rights issues, block trades, accelerated bookbuilds, ATM programs, convertibles, PIPEs, private placements and SPACs.
3. Debt Capital Markets Underwriting and Origination Fees: Origination, distribution and structuring fees from leveraged credit, investment grade corporate debt, high-yield bonds, leveraged loans, mezzanine, asset-backed, securitized markets, municipal and project finance.
4. Equities Sales, Trading and Execution Commissions: Cash equities commissions, electronic/algorithmic trading, convertibles trading, equity derivatives, prime brokerage commissions and Outsourced Trading fees; agency, principal and market-maker execution across 49 countries.
5. Fixed Income Sales, Trading and Market-Making Spread: Spread and principal trading revenue from leveraged credit, investment grade corporates, macro credit (CDX IG/HY), structured solutions, emerging markets, municipal, securitized markets, government & agency; plus credit E-Trading algorithmic/ETF/portfolio trading revenue.
6. Prime Brokerage Financing and Securities Lending Income: Margin financing, fully paid lending program, securities lending matched book and special situations, structured funding via Jefferies Global Swap Product, capital introduction and business consulting; interest income on financing balances plus securities lending fees.
7. Alternative Asset Management (Leucadia Asset Management) Fees: Management fees, incentive fees, revenue share and equity interests from affiliated alternative asset managers offering institutional investors a diversified set of alternative strategies. Investor base includes sovereign wealth funds, public/corporate pensions, insurance companies, foundations, endowments, family offices and other institutional investors.
8. Wealth Management Advisory, Brokerage and Investment Management Fees: Financial advisory, institutional brokerage execution, equity comp management, restricted stock sales, asset allocation, portfolio management, alternative investments, directed share programs, deal placement and family-office/institutional consulting fees for high-net-worth individuals, executives, family offices and institutions.

Pricing tiers

Go-to-market motion5 records

Distribution channels9 records

Marketing channels10 records

Core offering

Jefferies is a full-service global investment banking and capital markets firm that delivers M&A advisory, equity and debt underwriting, sales and trading in equities, fixed income and foreign exchange, prime brokerage, equity research, alternative asset management (via Leucadia Asset Management) and wealth management to corporate clients, institutional investors, sponsors, sovereigns and high-net-worth individuals. The firm executes transactions globally across the Americas, EMEA and Asia-Pacific with senior-led coverage and proprietary electronic trading technology.

Product overview

Jefferies is the leading pure-play investment banking and capital markets firm, structured as an integrated platform of six core service lines with extensive sub-modules: Investment Banking (with capabilities in Mergers & Acquisitions, Equity Capital Markets, Debt Capital Markets, Capital Structure Solutions, and Private Capital Advisory), Global Research & Strategy, Equities (with Cash Equities, Electronic Trading, the Global Algorithmic Suite, Equity Derivatives, Convertibles, Prime Services, and Corporate Access), Fixed Income (with Leveraged Credit, Investment Grade Corporates, Macro Credit, Global Structured Solutions, Emerging Markets Fixed Income, Municipal and Not-for-Profits, Securitized Markets, and Government & Agency), Alternative Asset Management (delivered through the Leucadia Asset Management sub-brand), and Wealth Management (with Solutions for Corporations and Executives, Family Office and Institutional Consulting, Wealth Planning, Investment Advisory Services, and Institutional Brokerage). These are tightly interconnected service lines rather than a single software product, sharing clients, content and execution infrastructure across the Americas, EMEA and Asia-Pacific.

Differentiator

Problem solved

Functional benefit

Brands

• Leucadia Asset Management: Jefferies' diversified alternative asset management platform offering institutional investors an innovative range of strategies through its affiliated asset managers.
• Jefferies Prime Services
• Jefferies Wealth Management
• Jefferies Finance
• Jefferies Family Scholarship
• GoodToday

Products and services

• Investment Banking Global advisory and capital raising franchise delivering M&A, equity and debt capital markets, capital structure solutions and private capital advisory to corporate clients, sponsors and sovereigns. The team of more than 1,800 professionals executes creative, idea-driven transactions across all major sectors and regions.
• Global Research & Strategy Research and strategy platform delivering insights on global macro strategy and economics, equity research across regions, fixed income markets and strategy, and Sustainability & Transition strategy and research, distributed through the secure JEFContent client portal. Coverage spans 3,750+ stocks globally.
• Equities Leading global institutional equities franchise covering more than 3,750 stocks across 49 countries, built on a unique advisory platform, differentiated distribution, cutting-edge execution capabilities and leading Prime Services for hedge funds, spanning cash equities, electronic/algorithmic trading, equity derivatives, convertibles, prime services and corporate access.
• Fixed Income Top-ranked global credit trading franchise providing unique insights and outstanding global execution capabilities across leveraged credit, investment grade corporates, macro credit, structured solutions, emerging markets, municipal and securitized markets, plus government and agency trading with 24-hour liquidity from New York, London and Tokyo. Designated U.S. Primary Dealer and equivalents in Germany, the Netherlands, Portugal and Slovenia.
• Alternative Asset Management Leucadia Asset Management, Jefferies' diversified alternative asset management platform offering institutional investors an innovative range of investment strategies through affiliated asset managers, with strategic alignment between LAM, its asset managers and institutional investors and access to Jefferies' capital and global distribution.
• Wealth Management Partner of choice for high-net-worth individuals, families and institutional clients offering uncommon investment and wealth management solutions, combining executive expertise, institutional execution, differentiated investment selection and international specialization. Capabilities span solutions for corporations and executives, family office and institutional consulting, wealth planning, investment advisory services and institutional brokerage.

Quantifiable outcome

• Bookrunner on roughly one out of every four IPOs priced in the U.S.
• +9 more outcomes

Named customers24 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Scale indicators17 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Lazard: Pure-play independent investment bank with strong M&A advisory and asset management franchises; closest direct peer to Jefferies by virtue of also being a non-bank, advisory-led firm competing in mid- and large-cap M&A and capital structure advisory.
• Moelis & Company: Boutique investment bank focused on M&A advisory, restructuring and capital markets; competes with Jefferies for corporate advisory mandates, particularly in mid-cap and sponsor-driven transactions.
• Rothschild & Co: Global independent advisory firm with M&A and capital structure advisory expertise; competes directly with Jefferies in cross-border advisory and restructuring mandates across Europe, the Americas and emerging markets.
• Evercore: Leading independent advisory firm with deep M&A, restructuring and capital markets advisory capabilities; comparable to Jefferies' Investment Banking platform in client mix and deal-type focus, though smaller in trading and market-making.
• Piper Sandler: U.S.-focused investment bank with strengths in healthcare, consumer, energy, financial services and technology M&A advisory and equity capital markets; competes with Jefferies across mid-market advisory and capital markets, especially in sector-specific mandates.
• Centerview Partners: Elite boutique advisory firm that has rapidly captured share of the largest U.S. M&A and restructuring mandates; competes with Jefferies in senior-led, idea-driven advisory work, especially on mega-deals.
• Houlihan Lokey: Independent investment bank with strengths in M&A, capital markets, financial restructuring and valuation; directly comparable to Jefferies across advisory services and increasingly in capital markets origination.

Broad incumbents

• Morgan Stanley: Global investment bank with overlapping IB, equities, fixed income and wealth management franchises; competes head-to-head with Jefferies in advisory and capital markets while also operating a much larger wealth management and institutional securities platform.
• Goldman Sachs: Bulge-bracket investment bank and capital markets franchise; competes directly with Jefferies across M&A advisory, ECM/DCM underwriting, equities and fixed income trading, and prime brokerage, but with significantly larger balance sheet and broader consumer/wealth businesses.

Regional players

• Stifel Financial: U.S.-centric full-service investment bank with institutional securities, investment banking and wealth management; overlaps with Jefferies' U.S. mid-market advisory and capital markets activity, though with a more domestically focused franchise.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/JefferiesEvents
• LinkedInlinkedin.com/company/5154
• Instagraminstagram.com/Jefferies
• Facebookfacebook.com/Jefferiesllc

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments50 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Jefferies