The primary companies acquired include Prudential Bache Commodities and Prudential Bache Securities in the US, Bache Commodities in the UK and Bache Commodities (Hong Kong) in Hong Kong.
These businesses will operate globally as Jefferies Bache, and will have over 400 employees in New York, Chicago, London, Hong Kong and Hamburg, said Jefferies.
Patrice Blanc, previously CEO of Newedge Group who joined Jefferies in October 2010 to start the futures business, will serve as chairman and CEO of Jefferies Bache, and Alex Ladouceur, formerly president of Prudential Bache Commodities, will serve as president of Jefferies Bache.
Richard Handler and Brian Friedman, CEO and chairman of the Executive Committee of Jefferies, respectively, said they are very pleased to complete this acquisition, which will enable Jefferies to accelerate their growth in futures and significantly expand presence in commodities.
"The Bache platform aligns well with our strategy for listed derivatives and complements Jefferies’ extensive and deep relationships in the global investment community," they added.
