Jefferies

Jonathan Slone Appointed As Chairman of Jefferies Asian Operations

As per recent announcement made by USA based multinational investment banking giant and financial service provider Jefferies Group LLC, it has hired Jonathan Slone to serve as Chairman of its Asian business operations. Jefferies has been focused on expanding its reach in Asian market for quite some time and in order to spear head its business expansion activities in Asia, it has hired an industry veteran with high level knowledge and experience working in Asian market. Jonathan Slone is more popularly known for his long tenure of Chief Executive Officer at Hong Kong based investment and asset management firm CLSA. Jefferies has been on a hiring spree in Asia, taking advantage of internal woes at Hong Kong based financial service provider, managing to hire more than 50 executives who have resigned from CLSA including one its famous analyst – Christopher Wood.

Jonathan Slone
Jonathan Slone

Aside from Christopher & Jonathan, Brian Johnson and Desh Peramunetilleke are few other notable executives who left CLSA to join rival firm Jefferies as reported in previous article. Jonathan Slone left CLSA back in March this year over difference in strategy stemming from CITIC’s efforts to revamp CLSA’s business operations. Jonathan role at CLSA was taken over by Rick Gould who was previously serving as CEO of CLSA’s business operations in Americas region. Slone served at CLSA for more than 30 years as the firm’s CEO and Chairman and oversaw the firm’s operations in brokerage, investment banking and asset management departments across the globe. In his new role as chairman at Jefferies, Slone will oversee major relationship for investment banking and trading services in Asian market region. Of the four CLSA executives mentioned above, aside from Brian who served at CLSA’s Australian office, the three others served from Hong Kong office.

As per statement released by the firm, the 50 plus executives poached from CLSA are spread across the firm’s offices located in Asia-Pacific market region such as Australia, Japan and Hong Kong. When speaking about hiring various executives from CLSA, Jefferies CEO Rich Handler and President Brian Friedman commented, “The significant hires in recent weeks across our firm’s Asian platform represent the next stage of growth and commitment to our firm’s continued global expansion” and when speaking about Jonathan’s appointment as chairman they commented, “We are excited to welcome Jonathan as Chairman of Jefferies’ Asia business. The significant hires in recent weeks across our firm’s Asian platform represent the next stage of growth and commitment to our firm’s continued global expansion. These new additions, combined with our strong existing team, will enable Jefferies to even better serve our global client base”.

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