Jefferies (JEF) to Acquire Hoare Govett from RBS (RBS)

Jefferies (NYSE: JEF) announced today that it has agreed to acquire Hoare Govett and employ certain other professionals from The Royal Bank of Scotland Group plc (NYSE: RBS).

From the release: "With a history of serving clients for over 100 years, Hoare Govett is one of the UK’s most prominent corporate brokers. The acquisition includes the entire senior Hoare Govett corporate broking team, as well as certain other corporate broking, equity research, sales, trading and capital markets professionals necessary to continue to serve the needs of Hoare Govett’s large base of retained clients. In total, approximately 50 professionals will join Jefferies’ London office, including all current Hoare Govett Managing Directors. The acquired business will operate as Jefferies Hoare Govett."

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