Jefferies International, the US investment bank, announced that restructuring expert Richard Nevins has relocated to London to oversee the firm’s European restructuring and recapitalisation effort.
The new team currently comprises Nevins and two junior members but will be expanded in due course to take advantage of opportunities primarily in the UK, Germany, France and Italy. Nevins has been co-head of restructuring at Jefferies since 1998 and has 20 years’ experience of the restructuring market.
“In today’s multinational marketplace, companies in distressed situations increasingly benefit from a global perspective,” said Nevins. “With the rapid development of Europe’s restructuring market, the decline of relationship lending, and the substantial, if belated, growth in Europe’s high yield market, the opportunity is immense.”
Jefferies’ global recap and restructuring team has 40 bankers working across industry sectors to meet the challenges of financially distressed companies. Representing issuers, bondholders, creditors and buyers and sellers, it has restructured nearly $100 billion in liabilities since 1998.
Jefferies International is a subsidiary of Jefferies Group, the New York-listed investment bank and institutional securities firm that has advised mid-market and growth companies and their investors for around 40 years. It provides capital markets and financial advice, institutional brokerage, research and asset management.