May 12, 2016 / 5:20 PM / 3 years ago

Jefferies restructuring banker Klein to join Miller Buckfire: sources

NEW YORK (Reuters) - Richard Klein, a senior restructuring banker at Jefferies Group LLC, has agreed to join competing investment bank Miller Buckfire & Co, people familiar with the matter said on Wednesday.

The sources asked not to be identified because the hire has not been made public. Spokespeople for both Miller Buckfire and Jefferies declined to comment.

Klein joined Jefferies in 2008 and worked on bankruptcies including solar wafer manufacturer LDK Solar Co., Ltd., according to his LinkedIn profile. He also represented creditors in the bankruptcy of Caesars Entertainment Operating Co., the operating unit of Caesars Entertainment Corp.

He previously spent a little over a decade working in restructuring at Houlihan Lokey Inc.

Klein’s move follows a string of job shuffles in the restructuring community, as activity picks up amid the decline in commodity prices. Tero Jänne moved from Jefferies to Rothschild Inc, and Alexander Tracy left Miller Buckfire for Perella Weinberg Partners LP, Reuters reported in April.

Miller Buckfire has recently worked on the bankruptcy of rare earths miner Molycorp Inc. It is also working on lender negotiations for Ultrapetrol Limited, an industrial transportation company.

Reporting by Jessica DiNapoli; Editing by Chris Reese

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