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FOR IMMEDIATE RELEASE Jefferies Hires Senior Professional in Bonds Direct Division; Michael Effron to Head U.S. Government Agency Business NEW YORK--(BUSINESS WIRE)--Aug. 2, 2005--Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced that Michael S. Effron has joined the firm's Bonds Direct Division to head this group's U.S. Government Agency business. Mr. Effron is a 19-year industry veteran with extensive experience in Fixed Income trading. "Our Government Agency business is a key component in our strategy to further diversify and grow our high grade business," commented Lee Fensterstock, Managing Director of the Bonds Direct Division of Jefferies. "We are pleased and excited to have an individual of Michael's experience and solid track record as part of our team." Richard B. Handler, Chairman and CEO of Jefferies, added, "Michael Effron is one of a number of recent additions that we are confident will further establish our position as a leader in the high grade securities business." The Bonds Direct Division of Jefferies makes markets in investment grade fixed income instruments for institutional investors. The two-way markets of Bonds Direct are available through MarketAxess and TradeWeb or through the Bloomberg auto-execution functions. Mr. Effron has been in the securities industry for more than 19 years. Prior to Jefferies, he was at Piper Jaffray & Co. where he worked for eight years in a number of roles including Head of Fixed Income Trading, Manager of Government Agency Trading and of Taxable Trading, as well as Senior Corporate Trader. Previously, he worked as an Investment Manager at Corporate One Credit Union and at Ohio State University. He began his career at J.P. Morgan formerly Bank One Trust Co. working with institutional clients. He was named one of the 2003 'Forty under 40' award winners by the Minneapolis/St. Paul Business Journal. He received a BSBA in Finance at Ohio State University. About Jefferies Jefferies, a global investment bank and institutional securities firm, has served growing and mid-sized companies and their investors for over 40 years. Headquartered in New York, with more than 25 offices around the world, Jefferies provides clients with capital markets and financial advisory services, institutional brokerage, securities research and asset management. The firm is a leading provider of trade execution in equity, high yield, convertible and international securities for institutional investors and high net worth individuals. Jefferies & Company, Inc. is the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF; www.jefferies.com). Special Note on Forward-Looking Statements This release contains "forward-looking statements" within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include statements about our future and statements that are not historical facts. The forward-looking statements in this release pertain to the future development of our business and products. Forward-looking statements represent only our belief regarding future events, many of which by their nature are inherently uncertain and outside of our control. It is possible that the actual results may differ materially from the anticipated results indicated in these forward-looking statements. Please refer to our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on April 27, 2005 for a discussion of important factors that could cause actual results to differ materially from those projected in these forward-looking statements. CONTACT: SOURCE: Jefferies & Company, Inc. |
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