{{short description|American financial services company}} {{Use mdy dates|date=January 2019}} {{Infobox company | name = Jefferies Financial Group Inc. | logo = Jefferies logo.svg | image = 520 Madison Avenue as seen from 53rd Street.jpg | image_caption = Headquarters at 520 Madison Avenue | type = Public | traded_as = {{ubl|{{NYSE|JEF}}|S&P 400 component}} | former_name = Leucadia National Corporation (1979–2018)<ref>{{Cite web|date=2018-05-23|title=Leucadia National Corporation Changes Name to Jefferies Financial Group Inc.|url=https://www.businesswire.com/news/home/20180523006298/en/Leucadia-National-Corporation-Jefferies-Financial-Group%C2%A0Inc.|access-date=2020-08-08|website=www.businesswire.com|language=en}}</ref><br> Talcott National Corporation (1968–1979) | foundation = {{start date and age|1979}} | founders = {{ubl|Ian M. Cumming|Joseph S. Steinberg}} | location = New York City | industry = Financial services | key_people = Richard B. Handler (CEO)<br />Brian P. Friedman (president)<br />Joseph S. Steinberg (chairman)<ref name=10K>[https://www.sec.gov/Archives/edgar/data/96223/000009622318000009/luk-2017123110k.htm Leucadia National Corporation 2017 Form 10-K Annual Report]</ref> | revenue = {{increase}} US$7.34 billion (2025) | operating_income = {{decrease}} US$871 million (2025) | net_income = {{decrease}} US$631 million (2025) | assets = {{increase}} US$76.0 billion (2025) | equity = {{increase}} US$10.6 billion (2025) | num_employees = 7,787 (2025) | homepage = {{URL|jefferies.com}} | footnotes = <ref name=AnnualR2025>{{cite web|title= Jefferies Financial Group Inc. 2025 Annual Report (Form 10-K) |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/96223/000009622326000009/jef-20251130.htm |publisher=U.S. Securities and Exchange Commission |date=28 January 2026}}</ref> }}
'''Jefferies Financial Group Inc.''' is an American financial services company based in New York City. It is listed on the New York Stock Exchange and is a part of the ''Fortune'' 1000.<ref name=":0">{{Cite news|url=https://www.wsj.com/articles/leucadia-to-focus-more-on-financial-business-1523277191|title=Leucadia to Focus More on Financial Business|last=Prang|first=Allison|date=April 9, 2018|work=Wall Street Journal|access-date=July 2, 2018|language=en-US|issn=0099-9660}}</ref><ref name="name change">{{cite news|url=https://www.reuters.com/article/brief-leucadia-national-corp-changes-nam/brief-leucadia-national-corp-changes-name-to-jefferies-financial-groupinc-idUSFWN1SU0YF|title=BRIEF-Leucadia National Corp Changes Name To Jefferies Financial Group Inc|date=May 23, 2018|accessdate=May 28, 2018|publisher=Reuters}}</ref><ref>{{Cite web|url=https://fortune.com/fortune500/2019/jefferies-financial-group|title=Fortune 500 Companies 2019: Who Made the List|website=Fortune|language=en-US|access-date=September 25, 2019|archive-date=September 30, 2020|archive-url=https://web.archive.org/web/20200930133315/https://fortune.com/fortune500/2019/jefferies-financial-group//|url-status=dead}}</ref>
==Investments== The company's major holdings are as follows:<ref name=10K/>
===Financial Services=== * Jefferies Group (100%) - investment banking & capital markets * Berkadia Commercial Mortgage<ref>https://berkadia.com/</ref> (50/50 joint venture with Berkshire Hathaway) - commercial mortgage banking, investment sales and servicing *HomeFed<ref>https://homefedcorporation.com/</ref> (65% ownership) - Builder of Master Planned Communities, Income Properties, Land Holdings *FXCM (49.9%) - online foreign exchange trading *Foursight Capital<ref>https://www.foursight.com/</ref> (100%) - vehicle finance
===Others=== * HRG Group (23%) - insurance and consumer products * Vitesse Energy (96%) - oil and gas exploration and development * Juneau Energy (98%) - oil and gas exploration and development * Garcadia Holdings (75%, Joint venture with Ken Garff Automotive Group) - automobile dealerships * Linkem (57%) - fixed wireless broadband services * Golden Queen (35%) - a gold and silver mining project * Idaho Timber (100%) - manufacturing * National Beef Packing Company (79%) - food producer
==History== {{prose|date=January 2019}} *In 1970, Ian Cumming and Joseph S. Steinberg both graduated from Harvard Business School and went to work for Carl Marks & Company, an investment bank.<ref name=loner>{{cite news | url=https://www.nytimes.com/1985/05/25/business/leucadia-successful-loner.html | title=LEUCADIA: SUCCESSFUL LONER | first=JOHN | last=CRUDELE | work=The New York Times | date=May 25, 1985}}</ref> *In 1979, they gained control of Talcott National Corporation, sold the James Talcott Factors division, and, in 1980, they renamed the company Leucadia.<ref name=loner/> *In 1984, the company made a $61 million profit on its $77 million investment in Avco Corporation by forcing the sale of the company to Textron.<ref name=loner/> *In 1991, the company acquired insurer Colonial Penn from Florida Power & Light for $150 million.<ref>{{cite news | url=http://articles.sun-sentinel.com/1991-04-06/business/9101170690_1_fpl-group-colonial-penn-leucadia | archive-url=https://web.archive.org/web/20130703064233/http://articles.sun-sentinel.com/1991-04-06/business/9101170690_1_fpl-group-colonial-penn-leucadia | url-status=dead | archive-date=July 3, 2013 | title=Fpl Group Finds Buyer For Insurer Colonial Penn Brings In $150 Million | first=TRACY | last=KOLODY | work=Sun-Sentinel | date=April 6, 1991}}</ref> *In 1997, the company sold the life insurance division of Colonial Penn to Conseco for $460 million<ref>{{cite news | url=https://www.nytimes.com/1997/05/01/business/conseco-planning-to-acquire-colonial-penn.html | title=Conseco Planning to Acquire Colonial Penn | agency=Bloomberg News | work=The New York Times | date=May 1, 1997}}</ref> and sold the auto insurance division of Colonial Penn to GE Capital for $950 million.<ref>{{cite news | url=https://www.latimes.com/archives/la-xpm-1997-jul-01-fi-8770-story.html | title=GE Capital to Buy Colonial Penn | agency=Reuters | work=Los Angeles Times | date=July 1, 1997}}</ref> *In 1998, the company sold Charter National Life Insurance and Intramerica Life Insurance to Allstate.<ref>{{cite news | url=http://www.deseretnews.com/article/670992/Allstate-to-buy-2-Leucadia-companies.html | archive-url=https://web.archive.org/web/20170819020819/http://www.deseretnews.com/article/670992/Allstate-to-buy-2-Leucadia-companies.html | url-status=dead | archive-date=August 19, 2017 | title=Allstate to buy 2 Leucadia companies | agency=Bloomberg News | work=Deseret News | date=December 22, 1998}}</ref> *In 2002, the company received a 44% stake in WilTel Communications Group as a result of a bankruptcy reorganization.<ref>{{cite news | url=https://www.bizjournals.com/stlouis/stories/2002/10/14/daily42.html | title=Williams Communications emerges from bankruptcy as WilTel | publisher=American City Business Journals | date=October 16, 2002}}</ref> *In May 2003, the company made an offer to acquire the remaining shares of WilTel Communications Group that it did not already own.<ref>{{cite press release | url=http://www.businesswire.com/news/home/20030515005442/en/Leucadia-National-Corporation-Proposes-Acquire-WilTel-Communications | title=Leucadia National Corporation Proposes to Acquire WilTel Communications Group, Inc. Common Stock | publisher=Business Wire | date=May 15, 2003}}</ref> *In August 2003, after increasing its offer, the company acquired the remaining shares of WilTel Communications Group.<ref>{{cite news | url=https://www.nytimes.com/2003/08/13/business/technology-briefing-hardware-leucadia-to-acquire-remainder-of-wiltel.html | title=Hardware: Leucadia To Acquire Remainder Of Wiltel | agency=Bloomberg News | work=The New York Times | date=August 13, 2003}}</ref> *In September 2003, the company acquired RehabWorks.<ref>{{cite news | url=https://www.bizjournals.com/philadelphia/stories/2003/09/29/newscolumn3.html | title=Leucadia National buys RehabWorks | first=John | last=George | publisher=American City Business Journals | date=September 29, 2003}}</ref> *In January 2004, the company financed Pershing Square Capital Management, a hedge fund managed by Bill Ackman.<ref>{{cite news | url=https://www.thestreet.com/story/10136218/1/gotham-partners-ackman-back-in-hedge-fund-game.html | title=Gotham Partners' Ackman Back in Hedge Fund Game | first=Will | last=Swarts | publisher=TheStreet.com | date=January 12, 2004}}</ref> *In July 2004, the company sought, but failed, to buy a controlling stake in MCI Communications.<ref>{{cite news | url=https://www.nytimes.com/2004/07/13/business/market-place-leucadia-seeks-to-buy-controlling-stake-in-mci.html | title=Leucadia Seeks to Buy Controlling Stake in MCI | first=KEN | last=BELSON | work=The New York Times | date=July 13, 2004}}</ref> In September 2004, the company sold its stake in MCI for a $20 million profit.<ref>{{cite news | url=https://www.washingtonpost.com/wp-dyn/articles/A55607-2004Sep27.html | title=Declared Suitor Sells Its Stake In MCI | first=Christopher | last=Stern | newspaper=The Washington Post | date=September 28, 2004}}</ref> *In 2005, the company sold WilTel Communications Group to Level 3 Communications for a $180 million profit.<ref>{{cite press release | url=http://www.businesswire.com/news/home/20051223005146/en/Leucadia-National-Corporation-Completes-Sale-WilTel-Communications | title=Leucadia National Corporation Completes Sale of WilTel Communications Group, LLC to Level 3 Communications, Inc | publisher=Business Wire | date=December 23, 2005}}</ref> *In 2007, the company acquired ResortQuest International from Gaylord Hotels for $35 million.<ref>{{cite news | url=http://hotelexecutive.com/newswire/11207/function.array-pop | title=Gaylord Sells Mainland ResortQuest Business | publisher=Hotel Business Review | date=June 5, 2007}}</ref> *In 2009, the company entered into a 50/50 joint venture with Berkshire Hathaway called Berkadia, which acquired the North American loan origination and servicing business of Capmark Financial Group.<ref>{{cite press release | url=http://www.businesswire.com/news/home/20091211005586/en/Berkadia-Commercial-Mortgage-LLC-Completes-Acquisition-Capmark%E2%80%99s | title=Berkadia Commercial Mortgage LLC Completes Acquisition of Capmark's North American Loan Origination and Servicing Business | publisher=Business Wire | date=December 11, 2009}}</ref> *In 2010, the company sold ResortQuest International to Wyndham Worldwide for $56 million in cash.<ref>{{cite news | url=https://www.nj.com/business/index.ssf/2010/09/wyndham_to_buy_resortquest_for.html | title=Wyndham to buy ResortQuest for $56 million | work=Bloomberg News | publisher=NJ.com | date=September 22, 2010}}</ref> *In 2011, the company acquired a 79% interest in National Beef Packing Company for $867.9 million.<ref>{{cite press release | url=http://www.businesswire.com/news/home/20111205006625/en/Leucadia-National-Corporation-Announces-Agreement-Acquire-Control | title=Leucadia National Corporation Announces Agreement to Acquire Control of National Beef and Declares $0.25 Per Share Cash Dividend | publisher=Business Wire | date=December 5, 2011}}</ref><ref>{{cite news | url=https://www.bizjournals.com/kansascity/news/2011/12/06/national-beef-owners-agree-to-sell.html | title=National Beef owners reach $867.9M deal to sell majority stake to Leucadia | first=Brenna | last=Hawleyt | publisher=American City Business Journals | date=December 6, 2011}}</ref> *In 2012, the company proposed building a $3 billion syngas facility in south Chicago to convert coal and petroleum waste into natural gas; however, the plant never received legislative approval.<ref>{{cite news | url=http://blog.al.com/press-register-business/2012/01/illinois_ruling_hurts_leucadia.html | title=Illinois ruling hurts Leucadia synthetic gas proposal | first=Dan | last=Murtaugh| publisher=The Birmingham News | date=January 12, 2012}}</ref> *In 2013, the company merged with Jefferies Group and Richard Handler became chief executive officer of the company.<ref>{{cite press release | url=http://www.businesswire.com/news/home/20130228006507/en/Leucadia-National-Corporation-Jefferies-Group-Merger-Effective | title=Leucadia National Corporation and Jefferies Group, Inc. Merger to Be Effective March 1, 2013 | publisher=Business Wire | date=February 28, 2013}}</ref> *During the same year, KeyBank made a sub-servicing agreement with Berkadia Commercial Mortgage on the CMBS primary servicing portfolio it is acquiring from Bank of America. It also acquired Berkadia’s $10 billion special servicing portfolio.<ref>{{Cite news |date=2013-05-10 |title=BofA sells $110 billion CMBS servicing rights portfolio to KeyBank |language=en |work=Reuters |url=https://www.reuters.com/article/us-keycorp-bankofamerica-idUSBRE94902420130510 |access-date=2023-07-11}}</ref> *In 2015, the company made an investment in FXCM after FXCM suffered losses due to the appreciation of the Swiss Franc.<ref>{{cite news | url=https://www.reuters.com/article/us-swiss-snb-fxcm-idUSKBN0KP1MY20150117 | title=FX broker FXCM gets rescue from Jefferies parent Leucadia | first1=Mike | last1=Stone | first2=Gertrude | last2=Chavez-Dreyfuss | first3=Jessica | last3=Toonkel | publisher=Reuters | date=January 16, 2015}}</ref> *In 2016, the company restructured its investment in FXCM.<ref>{{cite press release | url=https://globenewswire.com/news-release/2016/09/01/868821/0/en/Leucadia-and-FXCM-Complete-Long-Term-Partnership-Agreement.html | title=Leucadia and FXCM Complete Long-Term Partnership Agreement | publisher=GlobeNewswire | date=September 1, 2016}}</ref> *In May 2018, the company was renamed Jefferies Financial Group.<ref name=":0" /><ref name="name change" />
==References== {{Reflist}}
==External links== * {{Official website}} * {{Finance links | name = Jefferies Financial Group | symbol = JEF | reuters = JEF.N | bloomberg = JEF:US | sec_cik = 96223 | yahoo = JEF | google = JEF:NYSE }}
{{S&P 400 companies}} {{Authority control}}
Category:Companies listed on the New York Stock Exchange Category:Publicly traded companies based in New York City Category:Companies in the S&P 400 Category:Financial services companies based in New York City