At Deadline
Traders Magazine, August, 2005
Shaw Retires
*John Shaw, president of Jefferies Group, has resigned. Shaw, 58, spent 22 years with Jefferies, serving as its president for the past five.
During his reign, Shaw oversaw the transformation of Jefferies from a firm known primarily for its cash equities trading into an integrated investment bank. Asset management and investment banking fees now account for about 40 percent of Jefferies revenues. In 2000, they represented only 17 percent. The diversification has helped Jefferies weather the hard times in its traditional trading businesses. For the first four years of Shaw's term, revenues from cash equities trading declined. Last year, though, they rose sharply, due to several large block trades that resulted from investment banking relationships,...
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