Dec 17 Investment bank Jefferies Group LLC, now
part of Leucadia National Corp, reported a 68 percent
jump in quarterly profit as investment banking revenue almost
Net income attributable to Jefferies rose to $120 million
from $71.6 million a year earlier, while revenue from investment
banking rose about 48 percent to $417 million.
Net revenue rose to $935.7 million from $768.9 million.
The bank's investment banking business benefited from a
strong stock market and an increase in leveraged finance, Chief
Executive Richard Handler said on Tuesday.
The year has seen some blockbuster deals, with merger and
acquisition activity across the globe rising to $1.55 trillion
up to the end of the third quarter.
Jefferies, which kicks off the reporting season for
investment banks, is often viewed as an indicator of performance
at Wall Street banks such as Goldman Sachs Group Inc and
Leucadia, which models itself on Warren Buffett's Berkshire
Hathaway Inc and owns companies ranging from real
estate to mining, paid $2.76 billion in stock for the 71 percent
of Jefferies it did not already own in November last year.
Leucadia shares were up about 0.5 percent at $27.58 in early
trading on the New York Stock Exchange.