Jefferies has been quietly hiring senior bankers from larger banks that are cutting back in London.
Hamish Crumley, the former head of global emerging markets sales trading at Barclays, joined Jefferies in April in a similar role, according to sources close to the situation.
Crumley left Barclays in February, along with six other staff at director level or above in senior sales or trading roles. He joined the bank from Citigroup in 2013 and was tasked with building Barclays’ Asian equities trading business in London from scratch. Since then, Barclays has retreated from Asian equities and a number of senior traders have left both in London and Hong Kong and Singapore.
Crumley previously ran Citi’s Asian equities business and worked at the U.S. bank for 13 years.
Jefferies also hired Maxence Le Gouvello du Timat, and equity analyst who worked as a director at Credit Suisse until February. He joins the U.S. bank as a managing director.
Ajit Sarpal, a former FICC trader at Goldman Sachs, joined Jefferies too. This is his first role since leaving Goldman in 2014, according to regulatory filings.
Generally, Jefferies has been cutting headcount. The bank has cut around 500 people since February last year, according to its Q1 report.