S&T at Jefferies
Just accepted an offer for summer 2022 at Jefferies. Everyone I spoke to from the firm seemed great, but I was wondering if there were any desks, in particular, to try and get on or to avoid. Any advice or input is appreciated.
S&T is broad across many asset classes, and the next derivative is which side of the fence (sales vs trading) you want to sit on. what are you actually interested in?
It is fixed income focused and I am primarily interested in trading. Sorry for not specifying that to begin with.
I think I have a buddy on the Event Driven desk so that sounds good. I think JEF is strong is equities. I think they may have done the hertz atm. Also I think I have a friend who runs an equity hedge fund that uses jef at his PB. I think Dan Loeb worked on the distressed desk there so prob good too. I think I know another current HF manager who was at JEF, maybe on the ED desk. I think I interviewed with JEF ST in college. Guy asked me to sell him a pen. Was a fun interview overall. Seems like a solid place to work. Prob all desks are good there. Handler seems like a solid CEO. Good building and location too. Good luck
1) Jefferies doing the Hertz ATM equity offering (during bankruptcy) isn't indicative of strength in equities... it was the only bank willing to do something as retarded as bringing an equity ATM for a bankrupt debtor which was evident when the SEC shut it down nearly immediately after it began, 2) PB is a fee business and Jefferies is just another one, lot of the bigger guys (remember Archegos?) are the real PB players, 3) Dan Loeb worked on that desk in the 1990s before the one that exists today, the first iteration of which was actually under Doscher (pre Femenia) and that blew up, 4) literally everyone has watched Wolf of Wall Street, and 5) Handler is a self-absorbed CEO who is so far removed from the true culture at his firm both in S&T/IBD that he thinks free Pelotons for kids is the way to go. His Instagram personality is fake, and it's a poor PR show for a firm with arguably a smart and well-liked CEO who is not in tune with how people at his shop really feel.
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