FOR IMMEDIATE DISTRIBUTION
NEW YORK, January 28, 2009 -- The Jefferies investment bank today announced the hiring of two Managing Directors in the Firm’s Recapitalization & Restructuring group. Hal Kennedy and Leon Szlezinger join the dedicated practice as Managing Directors within the Firm’s Investment Banking Division.
Mr. Kennedy has more than 20 years of experience in advising and raising capital for companies facing financial challenges, and Mr. Szlezinger has more than 18 years of experience in corporate restructuring and financial advisory services. Messrs. Kennedy and Szlezinger will be based in the New York office of Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF).
In a joint statement, Michael J. Henkin and Steven R. Strom, Co-Heads of Jefferies’ Recapitalization & Restructuring advisory practice, commented, "Our large team of dedicated recapitalization and restructuring professionals will benefit from the addition of Hal Kennedy and Leon Szlezinger, whose considerable experience and expertise further enhance Jefferies' ability to address the needs of companies, creditors and other key stakeholders in distressed situations. This is one of several changes we are making to meet the growing demand for advisory services as we see an increase in opportunities to work with clients experiencing balance sheet problems resulting from today's adverse economic environment."
As an investment banker, Mr. Kennedy has advised companies and investors in restructuring and distressed financing transactions, including high profile engagements involving AspenTech, Autocam, Exide Technologies, Genesis Health Ventures, Harborside Healthcare, J.Crew, Meridian Automotive Systems, and Safety-Kleen. He joins Jefferies from Credit Suisse and predecessor Donaldson, Lufkin & Jenrette, where he spent 19 years focused on restructuring and distressed finance. Previously, Mr. Kennedy was in the corporate finance group at Drexel Burnham Lambert, where he spent five years. He received an MBA from Harvard Business School and a BS in Operations Research from Columbia University’s School of Engineering and Applied Science.
Mr. Szlezinger has provided financial advisory services to troubled companies and their stakeholders in bankruptcy and restructurings in the United States, Europe and Latin America, including Delphi Automotive, Quebecor, Enron, Oxford Automotive, Federal Mogul, Delta Woodside and Parmalat. He joins the firm from Mesirow Financial Consulting, where he was a Senior Managing Director. Prior to that, Mr. Szlezinger was a principal in the Corporate Recovery group at KPMG LLP. He was recognized in the 2006 K&A Restructuring Register, a peer group listing of the top 40 corporate restructuring financial advisors in the United States, in Bankruptcy Insider as a top creditor advisor, and Turnaround & Workouts' People to Watch 2007. He received a BA in Economics Manchester University, England.
Jefferies’ Recapitalization & Restructuring group has long been a core component of Jefferies’ Investment Banking Division. Jefferies has advised on some of the largest recent in- and out-of-court restructurings, including those for Circuit City, Quebecor, Apex Silver, Federal Mogul Corporation, Movie Gallery and Delphi. In 2008, the group worked on nearly 40 transactions worth more than $50 billion.
About Jefferies
Jefferies, a global investment bank and institutional securities firm, has served companies and their investors for over 45 years. Headquartered in New York, with offices in more than 25 cities 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).
For further information, please contact:
Tom Tarrant, Jefferies & Company, Inc., 203 708 5989, ttarrant@jefferies.com
Desiree Maghoo, Jefferies International Limited, 44 20 7029 8085, dmaghoo@jefferies.com
Josh Passman, Cubitt Jacobs & Prosek, 212 279 3115, x203, jpassman@cjpcom.com
