Alexander Smith

Alexander Smith’s Profile

Is Jefferies right to be bullish on M&A in AM?

July 7, 2009

A bull(ish) note from growing investment banking group Jefferies Putnam Lovell predicting “a steady flow of M&A activity in the global asset management industry” for the second half of 2009.

Jefferies is basing its view on the following factors:

  • divestitures by larger financial groups shoring up their capital base 
  • pure-play asset managers looking to bulk up
  • private equity firms drawn not least by lower capital requirements

And the firm is putting its money where its mouth is. It has recently been hiring scores of senior bankers from rival firms as it seeks to build itself a major presence.

This hasn’t been without its problems. UBS filed a claim against Jefferies after the mid-sized investment bank lured away nearly three dozen of the Swiss bank’s healthcare bankers.

Jefferies is pinning part of its confidence on a wider “relief that economies, while unsteady, are coming out of the crisis toward recovery”.

Perhaps its prediction of a radical reshaping of the asset management industry reflects some of its own hopes for a redrawing of the investment banking landscape.


Muchos Gracias for your article post.Thanks Again.


Very neat article post.Thanks Again. Awesome.


I really like and appreciate your article.Really thank you! Want more.


Im grateful for the blog article. Really Cool.


I am so grateful for your blog post. Much obliged.


I value the blog. Fantastic.


I really like and appreciate your blog.Really thank you! Great.


I cannot thank you enough for the article post.Much thanks again.


I am so grateful for your blog article.Really thank you! Great.


I appreciate you sharing this blog post.Really looking forward to read more. Much obliged.


Great, thanks for sharing this article post.Really looking forward to read more. Great.


Thanks again for the blog. Want more.


Thanks for the blog post.Much thanks again. Want more.


Im obliged for the blog post.Really thank you! Want more.


Very informative blog.Thanks Again. Really Great.


Muchos Gracias for your article.Much thanks again. Keep writing.


A big thank you for your blog post.Really thank you! Great.


Very good blog article.


I truly appreciate this blog post.Thanks Again. Great.


The points you discussed here are rather valuable. Rrt had been such an enjoyable surprise to have that waiting for me after i woke up today. They are generally to the point and easy to grasp. Thanks for your time for the clever ideas you’ve got shared above.


A round of applause for your article.Really thank you! Really Cool.


I appreciate you sharing this post. Keep writing.


I cannot thank you enough for the blog article.


Im thankful for the post.Much thanks again. Much obliged.


I value the blog post. Cool.


I appreciate you sharing this article.Much thanks again. Awesome.


Thanks-a-mundo for the blog article.Really looking forward to read more. Will read on…


Appreciate you sharing, great article post.Really thank you! Really Cool.


Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see
  • About Alexander

    "I am a Reuters columnist specialising in financial services -- particularly investment banking, M&A and corporate finance. I am based in London, but have lived and worked in Spain and South America. I have been a journalist and editor for almost 19 years and before moving into commentary at the beginning of 2009 I was the editor responsible for Reuters coverage of company news in Europe, Middle East and Africa."
  • More from Alexander

  • Follow Alexander