Giving Thanks To All Of You

Team Jefferies,

As those of us in the U.S. approach our Thanksgiving holiday tomorrow, which hopefully most of us will spend with family and friends, we thought it would be a perfect time to share with each of you, our 6,175 global Jefferies partners, exactly why we are so grateful.  Here is our abbreviated version, as the full list is all but endless….

We are grateful because:

1. Jefferies is the sum of an enormous number of truly competent, committed, passionate, hardworking and highly ethical people who care as much as we do about acting like owners.  Many of us enthusiastically and voluntarily shoulder the responsibility that comes along with the long-term commitment required to continually build, invest in and protect our business home.

2. Our clients know us personally and not only recognize how much we care about prioritizing their needs and objectives, but return the favor in kind with consistent loyalty, trust, warm referrals and fair reward for our efforts.  Jefferies is truly a carefully orchestrated amalgamation of trusted relationships all bound together for mutual long-term success.

3. Our Board, shareholders, bondholders, joint venture partners, rating agencies and other key relationships allow us the privilege of always thinking and acting long term.  We have also been afforded the luxury of being able to play offense when the environment is uncertain, as is our way, and to reap the benefits during the better periods.  We must continue to earn the privilege of everyone’s trust every single day, and we will never take it for granted.

4. As we mentioned at our October Investor Day, we are (thankfully) ending the year with the kind of momentum we expected when the year started.  It certainly has been a year of two halves, and we are pleased with the way 2025 is concluding.  And while nothing is ever certain, current trends certainly bode well as we enter our 2026 fiscal year on Monday.

5. Our Jefferies brand has never been stronger or allowed us to focus ever more exclusively on serving our clients as opposed to telling our own story.  This is advancing every day on a truly global basis, and it is remarkable to see that while the passion and focus is local, the magic really occurs when the various regions, sectors, products and services come together to create compounded value add, operating leverage and scalability.

6. While our role in the global capital markets is incredibly important to economies, investors, companies and even governments, Jefferies has purpose beyond being a Wall Street firm.  Every day we find more ways to be even more important to the communities we serve and the people who may not be as fortunate as so many of us truly are.

7. While we think constantly about the first six points, there is no doubt in either of our minds that the first priority of all 6,000 of us must be the personal health (mental and physical) of every one of us and our families, friends and loved ones.  Finding personal fulfillment in one’s career is wonderful, but it is not sufficient for a happy life.  Personal growth inside and outside of the office, having the opportunity for balance (not always easy but critical), expanding and maintaining personal connections with people you care about, and having personal purpose, are all at the top of our lists for gratitude.

We know Thanksgiving is not celebrated around the world, but we wanted to share these sentiments with all 6,175 of you in our 49 offices in 24 countries around the globe.  We hope each of you spends more than a little time as we finish out our 2025 fiscal year and begin our individual and collective climb up 2026’s exciting new mountain.

With great appreciation and gratitude for each of you,

Rich and Brian