November 9, 2010 / 4:44 PM / 8 years ago

UPDATE 1-Jefferies names U.S. head of defense banking

NEW YORK, Nov 9 (Reuters) - Jefferies Group Inc (JEF.N) said on Tuesday it has hired Rob Stewart from Credit SuisseCSGN.VX as a managing director and U.S. head of aerospace and defense investment banking.

Stewart, who is joining Jefferies after nine years at Credit Suisse, was most recently a managing director and head of aerospace and defense investment banking for Europe.

Prior to that, he served various roles at Wachovia Securities, and at the Pentagon focused on strategic planning in the defense sector.

Stewart will be based in New York and report to David Baxt, Jefferies’ global head of aerospace and defense investment banking, a group that comprises 20 professionals globally.

Among Jefferies’ recent deals in the aerospace and defense sector, Baxt advised private equity firm JLL Partners in its $1.27 billion deal in September to sell McKechnie Aerospace to aircraft parts maker TransDigm Group Inc (TDG.N).

His team also advised buyout firm Arlington Capital Partners on its $310 million sale of TSI Group Inc to BE Aerospace Inc BEAV.O in October. (Reporting by Soyoung Kim, editing by Gerald E. McCormick)

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