Why Jefferies’ bankers don’t mind the curious share price gyrations
It’s been an interesting month or so for shareholders at Jefferies. First, the bank’s share price fell 24% between 17th September and 10th October over concerns about its exposure to First Brands. Then it gyrated and recovered some ground. But this week, it’s fallen again, including a brief but mysterious 13% fall before the market opened on Thursday.
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At other banks, this might have managing directors (MDs) rushing to recalibrate their net worth. At Jefferies, this is not so. Even MDs who’ve worked there for decades tell us they have no stock. Many were not even aware of this week’s price gyrations,
That’s a stark contrast to other banks, where employees take a keen interest in the…
