FNG Exclusive… FNG has learned that the two leading executives running the FX Prime Brokerage operations of Jefferies Financial Group Inc (NYSE:JEF), Brandon Mulvihill and Anthony Mazzarese, have indicated that they are leaving the firm to embark on an as-yet unnamed venture in the crypto space.

Both Brandon Mulvihill and Anthony Mazzarese joined Jefferies in 2017, following Jefferies’ (effective) acquisition of FXCM, folding in the institutional FXCM Pro business into Jefferies. Brandon Mulvihill had been with FXCM since 2004, ending his tenure there as Managing Director – Global Head of FXCM Pro before becoming Managing Director – Global Head of FX Prime Brokerage at Jefferies for the past five years.

Anthony Mazzarese first joined FXCM in 2004, leaving to Citi in 2010 to head FX Margin Sales – Americas before returning to FXCM in 2015. At Jefferies he was Global Head of FXPB Distribution.

The moves come as FXCM has reinstituted the FXCM Pro brand in the past couple of years, and has been successfully re-growing its FX institutional business under the FXCM banner.

Each of Brandon and Anthony posted on social media about the changes, as follows:

Brandon – In collaboration with my long time business partner Anthony Mazzarese, we are incredibly excited and passionate to announce the launch of our entrance into digital assets. Since originally examining crypto NDF(s) in 2018, Anthony and I have been overwhelmingly inspired by the innovation and growth within the industry, as well as the challenges the industry faces due to such growth. In the coming days and weeks Anthony and I will be making several announcements about our venture, so please stay tuned!!

I would be remiss to not address how incredibly bittersweet it was to say goodbye to team Jefferies this past Friday. In the past five years we have worked alongside an extraordinarily talented FX Prime Brokerage team, our partnering customers, partner vendors, and the broader Jefferies franchise. I am incredibly grateful to have built so many lasting relationships during these past five years. Thank you team Jefferies.

On to the next chapter of an 18 year career, and I could not be more excited!

Anthony – After 5 years of building a fantastic FX Prime Brokerage business with an all-star team and loyal customer base, Friday marked my last day at Jefferies.

This is a bittersweet time as I am thrilled to announce that my business partner Brandon Mulvihill and I have launched our next venture tackling the digital asset space.

After 18 years of working in FX, I am excited to enter crypto as I fully believe cryptocurrencies and blockchain technology will transform traditional financial markets. I’m eager to share more about our venture in the coming weeks and catching up with colleagues and friends!