NEW YORK--(Business Wire)--
Jefferies Group, Inc. (NYSE: JEF) announced today the hiring of
two senior commodities professionals. James P. Crimmins joins
Jefferies Asset Management, LLC as a Managing Director. Thomas H.
Dering joins Jefferies Financial Products, LLC as a Senior Vice
President.
Mr. Crimmins will be a key member of Jefferies Asset Management's
Commodity Programs Division. Over the past two decades, he has played
a major ongoing role in the global evolution of commodities as an
asset class. During his tenure at Goldman Sachs where he held the
position of vice president of currency and commodity research, Mr.
Crimmins was a lead architect of the Goldman Sachs Commodity Index and
the GSCI futures contract listed on the CME. He served as both a
member of and a consultant to the GSCI Policy Committee from
1991-1999. He joins a team of seasoned commodity professionals at
Jefferies in managing Jefferies Commodity Programs, a series of
strategies designed to provide investors with actively managed
commodity exposure.
"Jim Crimmins is one of the key founders of commodities as an
asset class," commented Adam C. De Chiara, Co-President of Jefferies
Asset Management. "He is a pioneer of products which provide
broad-based commodity exposure, and his extensive experience in
designing both beta and alpha-generating strategies, make him a unique
and key asset in the ongoing development of Jefferies Commodity
Programs."
Mr. Dering will be an integral part of Jefferies Financial
Products, the firm's commodities sales and trading arm. He has worked
in the alternative investment industry for nearly 20 years, most
recently as a senior vice president at Morgan Stanley. Prior to Morgan
Stanley, Mr. Dering held the position of Portfolio Manager at Kingdon
Capital Management as well as Dean Witter Futures and Currency
Management, Inc. He joins a proven team of commodity sales and trading
professionals known for innovative commodity-linked products.
"With the recent and rapid expansion of commodity trading
globally, professionals of Tom Dering's caliber and experience are
difficult to find," commented Bradford L. Klein, Co-President of
Jefferies Financial Products. "This addition is in keeping with
Jefferies' approach of partnering with seasoned industry veterans who
bring unique insights and professionalism and can draw upon their
significant experience to navigate today's challenging markets."
About Jefferies Asset Management, LLC
Jefferies Asset Management, LLC (JAM), a wholly owned subsidiary
of Jefferies Group, Inc. (NYSE: JEF), is home to an array of
investment vehicles run by portfolio management teams. JAM, founded in
2003, includes a team of accomplished professionals with the backing
of Jefferies, a global full-service investment bank and institutional
securities firm focused on growing companies and their investors. JAM
employs a team of experienced finance, operations, legal and
compliance professionals to provide a solid framework and platform for
portfolio managers and differentiates itself by providing guidance and
infrastructure to allow managers to focus primarily on the investment
process itself. JAM also uses proprietary capital to seed new
portfolio managers and strategies. Jefferies Asset Management, LLC is
registered with the U.S. Securities and Exchange Commission as an
investment adviser and the U.S. Commodity Futures and Trading
Commission as a commodity trading adviser, and is a member of the
National Futures Association.
About Jefferies Financial Products, LLC
Jefferies Financial Products, LLC (JFP) offers swaps, options and
other derivatives linked to major publicly available commodity indexes
and is a significant provider of liquidity in exchange-traded
commodity index contracts. JFP's team of experienced professionals
provide innovative financial products and commodity index expertise to
pension funds, mutual funds, sovereigns, foundations, endowments and
other institutional investors seeking exposure to commodities as an
asset class. JFP offers proprietary commodity indexes, and worked with
Reuters to modify the CRB Index, now renamed the Reuters Jefferies CRB
Index, one of the world's most widely-followed commodity benchmarks.
JFP is a wholly owned subsidiary of Jefferies Group, Inc. (NYSE: JEF).
About Jefferies
Jefferies, a global investment bank and institutional securities
firm, has served growing and mid-sized companies and their investors
for 45 years. Headquartered in New York, with more than 25 offices
around the world, Jefferies provides clients with capital markets and
financial advisory services, institutional brokerage, securities
research and asset management. The firm is a leading provider of trade
execution in equity, high yield, convertible and international
securities for institutional investors and high net worth individuals.
Jefferies & Company, Inc. is the principal operating subsidiary of
Jefferies Group, Inc. (NYSE: JEF; www.jefferies.com).
Jefferies & Company, Inc.
Tom Tarrant, 203-708-5989
ttarrant@jefferies.com
or
Cubitt Jacobs & Prosek
Josh Passman, 212-279-3115, x203
jpassman@cjpcom.com
Copyright Business Wire 2008
