Bonus Watch '14: Jefferies
Hopefully Jefferies employees enjoyed last year's bonuses because there's reportedly a lot more where that came from.
In a year when banker bonuses are expected to soar, the investment bank Jefferies Group LLC (JEF) could only deliver disappointing news. Bankers at the firm learned Tuesday their bonuses would be flat to slightly up, according to a source briefed on the situation. They probably had an inkling that bonuses would be less than stellar when Jefferies handed investors disappointing financial guidance, sending shares of its parent company Leucadia National Corp. (LUK) down 2.5% to close at $21.04, extending its 2014 decline to 26%...For Jefferies, 2014 was not a typical year. The city's tabloids had good fun as several of the firm's top bankers were named and shamed during the divorce proceedings of Sage Kelly, a well-known Jefferies partner. Testimony of partner-swapping (that is, between consenting adults) as well as colorful drug benders dominated the newspaper headlines and water cooler chatter during the racy Kelly hearings.
Sage Kelly’s Escapades Blunt Jefferies Year-End Banker Bonuses [TSC]
