Jefferies opens Shanghai office

12 December 2006

Investment bank Jefferies Group is to open its first office in Shanghai.

The new office, the first in mainland China, follows an ongoing expansion plan for the investment bank – which now has over 2,250 employees in 30 offices worldwide.

Jefferies vice chairman Paul Deninger said: "With the sixth-largest economy in the world, China is teeming with growing companies and has become an area of focus and attention for investors around the globe.

"Greater China is rapidly becoming the hub for an even larger and rapidly growing Asian economy, and the establishment of an official presence in Shanghai demonstrates Jefferies' deep commitment to this dynamic and emergent region, and will greatly facilitate our ability to serve clients."

In the last two years, Jefferies has raised almost $3 billion in equity and debt transactions for companies in Asia and has advised on M&A transactions worth $2.5 billion. It also worked with China-focused private equity and venture capital funds.

Wei Hopeman, chief representative of Shanghai office, said: "China's businesses are thriving, and Jefferies' focus on small and mid-sized companies provides a perfect strategic fit for the ever expanding Chinese economy."

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