• Jefferies held its 2026 annual investor meeting with CEO Rich Handler, President Brian Friedman, CFO Matt Larson and business leaders.
• Larson expects compensation leverage in 2027 as hiring-related amortization peaks; Handler described investment banking backlogs as extremely high despite market uncertainty.
• The acquisition of 50% of Hildene is expected to close in the first quarter, with $340 million of new capital committed.
• Management expects the Hildene investment to deliver more predictable earnings; SILAC growth remains one to two years away.
• The SMBC Nikko Jefferies Japanese equities joint venture launches in January 2027; its contribution will appear in earnings rather than revenue.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Jefferies Financial Group Inc. published the original content used to generate this news brief on October 20, 2026, and is solely responsible for the information contained therein.