Bellwether has been a fan of Rich Handler's monthly memos for some time, and the most recent missive from the Jefferies CEO is absolute dynamite. It is dedicated to the current divorce trial between the global head of Jefferies' healthcare investment banking Sage Kelly and his ex-wife Christina Kelly, who publicly accused her husband of indulging in the sort of sex and narcotics antics that would make Jordan Belfonte blush. Rather than bat away the allegations against Kelly with a "no comment", as other banking CEOs might do, Handler has responded with admirable candour. In a 1,000-word company-wide memo on the subject, he revealed that he took the unusual decision of volunteering to take a drugs test - and invited senior members of the healthcare team to join him. Each of the bankers' tests came back, Handler assures us, "drug-free".
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