Jefferies Said to Make Cuts at Its Equity Unit

The video discusses Jeffries' financial performance, highlighting a 99% decline in the first quarter and a 2% decline in the second quarter. The company is cutting costs, particularly in compensation for high-paid MDs, and has seen personnel changes, including the departure of Reese Brooks. Jeffries is shifting focus from fixed income to equities due to declining revenues in fixed income. The CEO, Richard Handler, has indicated positive momentum, but the company faces challenges due to market trends and Brexit. The importance of equities to Jeffries is growing, although fixed income remains significant.

What was the percentage decline in Jeffries' revenue in the first quarter?

• 2%

• 99%

• 50%

• 27%

What is one of the reasons for the decline in equities trading revenue across Wall Street?

• High compensation for employees

• Increase in fixed income trading

• Brexit

• Rise in stock market value

How has Jeffries' business focus shifted due to the slump in fixed income?

• Increased focus on equities

• Expansion into real estate

• Diversification into commodities

• Reduction in overall trading activities

What role does Richard Handler hold at Jeffries?

• Chief Financial Officer

• Director of Operations

• Head of Equities

• Chief Executive Officer

How has the recent stock rally potentially impacted Jeffries?

• Increased trading volumes

• Improved mark-to-market positions

• Reduced reliance on equities

• Higher fixed income revenue