Jefferies Names Barclays Executive as New Finance Chief

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 [e-mail]

(END) Dow Jones Newswires

July 13, 2020 18:40 ET (22:40 GMT)

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