The former global head of emerging markets for Europe, the Middle East and Africa (EMEA) at , Fred Jallot is rumoured to be heading to Jefferies Group, .
According to a report from eFinancialCareers, which sights market sources, Jallot will be joining the firm as head of European fixed income in London. He is expected to begin his new role with Jefferies in the next few weeks and will report to Fred Orlan in New York.
During his career, Jallot has accrued more than two decades worth of professional experience in the financial industry. He has held a number of senior management roles. He originally joined in July 2017, with rumours surfacing in mid-2018 that he was leaving the Japanese financial giant.
Before working at , he was the EMEA head for Trading and Structuring at . Here he was responsible for Global Securitised Markets and Global Credit Markets.
Whilst at Nomura, Jallot made a number of hires, with many leaving after he departed the firm in June. In his new role at Jefferies, he may rehire these professionals, however, Jefferies is known to be selective with its hires.
Jefferies has declined to confirm Jallot’s appointment, which would be the second position he has held in 18 months.
Jefferies reports weak Q3 results for fixed income
The appointment of Jallot follows on from Jefferies reporting its third-quarter results in September. For fixed income, the firm published light revenues, coming in at $140 million. This is up by 17 per cent from the second quarter of this year.
Although this is an increase, the Chief Executive Officer Rich Handler and Brian Friedman, chairman of the executive committee, said the sector struggled during the three month period and had lower levels of client engagement.
The firm’s emerging markets business also managed to report solid results, despite a challenging market environment.
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