The two of us have the privilege and joy of frequently getting notes of appreciation and thanks from a wide range of Jefferies’ clients who take the time to express their heartfelt perspectives about how each of you has:
- Gone beyond the call of duty and exceeded their expectations
- Creatively solved one of their most pressing problems
- Exhibited tenacity and urgency while a competitor was complacent
- Showed that you are partners who “truly care” versus just another hired gun or counterparty
We literally get these notes all the time. Each one fills us with incredible pride, knowing that we are surrounded by such talented team members who constantly demonstrate genuine care for our clients. This is why we consistently blow away the competition.
In America, the month of November is a time to express thanks for all the positive blessings bestowed upon us. There is no doubt that the Jefferies cup runneth over, and globally, we could not be more appreciative of each other, our clients, the collective health of each other and our loved ones, and the incredible resiliency of mankind. Thank you, thank you, thank you all.
As a firm, we continue to have remarkable success. With that in mind, we would like to make the focus for this month of Thanksgiving about celebrating our thankfulness in a unique way. We’d like each of you to make two personal and specific lists:
- List of clients/projects that can be handed down to our future leaders: With the continued growth and maturation of our platform, almost all of us at Jefferies are truly working at capacity. It is time to reflect on the new generation of eager contributors who are abundant throughout Jefferies and ensure we are bringing them along in the manner they deserve by handing down opportunities for them to flourish. The Jefferies way is not to hoard a long list of names, clients or projects to maximize option value. The Jefferies way is mentorship, sharing, teamwork, warm introductions and leading by example. This is what makes Jefferies different. This is why we are here. This is what plants the seeds of future growth.
- List of clients who need a different kind of engagement: While the list may be small because we worked harder this year than ever before and served our clients better than ever, we know that no one is perfect. We all make mistakes. Sometimes the very best of intentions get misconstrued. Given how hard we all work and the fast-paced environment, we are sure that somewhere is a client who feels they didn’t get enough attention or the service they expected or deserved. We would like each of you to make your personal list of every client who you think requires fence mending or a fresh start with someone else leading the charge. If each of us makes our own comprehensive list and shares it with our respective partners and seniors, together we can develop a unique and tailored approach to rebuilding the necessary bridges and creating a foundation for success. There will be no finger pointing or blaming. If everyone is honest and transparent, and we attack this project as a team, we believe the result will be another massive lift for all of us — personally and professionally. We also believe that many of our clients are eager to restart or re-energize their Jefferies relationships, and if we make the first move with humility and compassion, our bet is that they will meet us halfway.
We could not be more pleased with how all of our businesses are performing at Jefferies. We are doing so many things right every single day that sometimes the two of us cannot believe our good fortune. That said, we never want to take any of it for granted or allow even a tear drop of arrogance to find its way into our organization. These two lists represent simple and straightforward adjustments that we can all individually and collectively make to attain even greater heights. Jefferies is about self-reflection and honesty, constant improvement, always doing the right thing and constantly encouraging personal and professional growth.
There are 22 business days left in our fiscal 2021. Not one of us will coast through the finish line. In fact, we intend to sprint every step until we cross the finish line. This month, we will properly, fairly and thoughtfully review all our employee-partners and expect each of you to come prepared to also discuss the two lists we discussed in this note as well. And in December, we will communicate year-end compensation, all the while accelerating the work effort in December to best set ourselves up in January as we officially begin an exciting, prosperous and even better 2022. There is so much to do together, and we could not be more thankful for all of you.
Preparing our own lists and thankful for each of you,
Rich and Brian