Hedge Funds

Jefferies plans major PB expansion with Dailey hire

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Jefferies is planning a significant expansion of its prime brokerage unit with the hire of industry veteran Glen Dailey and five of his colleagues from Banc of America Securities. Those hires were announced on February 22.

Dailey is a major name in prime services, with 23 years' experience in the business, and many see his hire as a major coup for Jefferies. Dailey helped build up a prime brokerage group for Furman Selz, and he later co-founded the prime brokerage business at Montgomery Securities prior to its acquisition by Banc of America. At BofA, Dailey was a managing director