Jefferies Names Barclays Executive as New Finance Chief
July 13 2020 - 6:55PM
Dow Jones News
By Nina Trentmann
Investment bank Jefferies Group LLC hired Matthew Larson, the
finance chief of Barclays PLC's Americas and Global Markets
businesses, as its chief financial officer.
The former CFO of Jefferies, Peg Broadbent, died from
complications related to Covid-19 -- the disease caused by the
novel coronavirus -- in late March.
Mr. Larson will assume his new role at Jefferies effective Aug.
24, replacing interim CFO Teresa Gendron.
Ms. Gendron, the CFO of Jefferies' financial-services business,
stepped in on March 29 to assume the interim role.
Mr. Larson joined Barclays in 2014, and became the bank's
Americas finance chief in June 2017, according to his LinkedIn
profile.
Before that, Mr. Larson, a certified public accountant, worked
in various positions at Goldman Sachs Group Inc.
Jefferies Chief Executive Rich Handler said the company searched
for an experienced and competent finance professional to fill the
role. "He [Mr. Larson] is joining Jefferies during a period of
strength for our company as we just recorded our best first half
ever, but also a time with uncertainty and volatility due to the
pandemic," Mr. Handler said.
Jefferies reported revenue of $2.53 billion for the six months
ended May 31, up from $1.93 billion during the prior-year period.
Income before tax and other provisions rose to $308 million as of
May 31, compared with $183 million in the prior-year period.
Ms. Gendron will return to her position as CFO of Jefferies
Financial Group Inc., the company said.
Write to Nina Trentmann at Nina.Trentmann@wsj.com
(END) Dow Jones Newswires
July 13, 2020 18:40 ET (22:40 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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