Industry veteran Jory Siegel has joined Jefferies as head of fixed income outsourced trading, from Marex.
Siegel was previously managing director and head of fixed income outsourced trading at TD Cowen, which was bough by Marex.
He has over two decades of trading and sales experience on the sell side, with over five years at MUFG, six at RBC Capital, three at Barclays Investment Bank and three at Credit Suisse, all in the credit space.
The hire indicates Jefferies is moving into outsourced trading in the fixed income space, which is a hotly contested market. Paul Morales runs Jefferies outsourced trading function in the US, while Dean Gray runs the EMEA business.
Marex recently hired Ron Catena as director of fixed income outsourced trading, and promoted John Orrock to head up its fixed income outsourcing business following Siegel’s departure.
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