FOR IMMEDIATE DISTRIBUTION
FRANKFURT, LONDON and NEW YORK, 2 April 2009 – Jefferies International Limited today announced that Frank Jung has joined the firm’s Recapitalization & Restructuring Group as a Managing Director based in Frankfurt. Mr. Jung has more than 10 years of European restructuring experience and joins the firm from Goldman Sachs. This appointment brings the total size of the Global Recapitalization & Restructuring Group to over 70 professionals, of which 12 are based in Europe.
“Frank Jung’s European restructuring experience as an investment banker and investor in distressed debt coupled with his legal background will be immediately valuable to our clients and Jefferies’ Global Recapitalization & Restructuring Group,” commented David Weaver, President of Jefferies International. “This is a critical time for many of our clients, and providing them with the counsel, expertise and full-service capabilities of our platform is our top priority.”
In a joint statement, Michael Henkin and Steven Strom, Co-Heads of Jefferies’ Global Recapitalization & Restructuring Group, commented, “The appointment of Frank Jung is an important addition to our global platform and underscores our continued commitment to providing the best quality recapitalization and restructuring advice and execution for our clients.”
In addition to spending the last four years at Goldman Sachs, Mr. Jung was previously at HypoVereinsbank and started his career at Allianz AG in Munich. He was awarded a Masters in Economics and Business Management from the University of Cologne and a Law Degree from the University of Trier.
In 2008, Jefferies was involved in more than 40 restructuring and recapitalization assignments concerning debt of over $50 billion. Recent high profile mandates include New Star, Circuit City and Delphi. Earlier this year, Jefferies also added Hal Kennedy and Leon Szlezinger as Managing Directors in the Global Recapitalization & Restructuring Group based in New York.
About Jefferies
Jefferies, an independent, full-service global securities and investment banking firm, has served companies and their investors for more than 45 years. Headquartered in New York City, 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 provides investors with fundamental research and trade execution in equity, equity-linked, and fixed income securities, including corporate bonds, high yield bonds, US government and agency securities, repo finance, mortgage- and asset-backed securities, municipal bonds, whole loans and emerging markets debt, as well as commodities and derivatives. Jefferies offers companies capital markets, merger and acquisition, restructuring and other financial advisory services. Jefferies & Company, Inc. is the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF: www.jefferies.com). Jefferies International Limited, a UK-incorporated, wholly owned subsidiary of Jefferies Group, Inc., was established in London in 1985 and is authorised and regulated by the UK Financial Services Authority.
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, CJP Communications, 212 279 3115, x203, jpassman@cjpcom.com
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