Jefferies Group LLC completes merger with Jefferies Financial Group Inc
Jefferies Financial Group Inc. (NYSE:JEF) announced today that it has completed the merger of its wholly owned subsidiary, Jefferies Group LLC, with and into Jefferies to streamline and simplify its corporate structure.
This merger will, among other things, eliminate the requirement for two sets of Form 10-Qs, Form 10-Ks, and other duplicative processes, and result in Jefferies assuming all of the assets and liabilities of Jefferies Group.
The plans for the merger were first announced in July 2022.
In connection with the corporate consolidation, Teri Gendron, Jefferies’ CFO, and John Dalton, its Controller and Chief Accounting Officer, have decided that they will remain at Jefferies through the first half of 2023, after which they will pursue opportunities outside Jefferies. Upon the completion of the entity merger, Matt Larson, currently Jefferies Group’s CFO, and Teri Gendron will be co-CFOs of Jefferies Financial Group. Matt Larson will become Jefferies’ CFO after Teri Gendron departs in 2023.