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Jefferies & Co. may have lost its restructuring and recapitalization practice co-heads, but the firm has replaced them and expects an uptick in business.
Thane Carlston and William Derrough were recruited by Moelis & Co., the corporate advisory shop founded by former UBS dealmaker Ken Moelis, to become managing directors and restructuring group co-heads. They start in July. Jefferies replaced Carlston and Derrough with Michael Henkin and Steven Strom. The appointments were announced last week and took effect immediately.
Henkin tells MAR the firm will expand its restructuring practice. "We've been in a market of historically low default rates, but we see a significant amount of increased activity and will be hiring as we receive more business."
Forty Jefferies bankers from various industry groups are currently engaged on more...