Record Q3 for Jefferies on surge in ECM, FICC

摘要

JEFFERIES FINANCIAL CROUP reported record third-quarter earnings driven by a surge in equity underwriting and fixed-income trading. Revenue from equity underwriting jumped 213% from a year ago to US$305m in the third quarter, a record for the bank, while revenues from debt underwriting rose 37% to US$139m. But revenues from M&A advisory lagged, falling by 20% to US$171m in the quarter as deal flow slowed amid the Covid-19 pandemic, which has made it harder to close transactions.