Bloomberg - Jefferies Financial Group goes after Cantor Fitzgerald

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Jefferies Financial Group is going after Cantor Fitzgerald, the home of its former star banker Sage Kelly, suing the brokerage and three investment bankers who left the firm last year.

Bloomberg News reports that the bank filed a lawsuit in London last month against Cantor and three bankers in its power, energy and infrastructure group. Jefferies lost 24 people in the energy coverage team to its New York-based rival last year.

While brokers have regularly turned to the U.K. courts to combat poaching of their staff, it’s rarer for a bank to do so. The lawsuit comes about a year after the bankers moved to Cantor, lured by Kelly, who now leads the firm’s investment bank.

Jefferies named Cantor Fitzgerald’s global and Hong Kong operations as defendants in its lawsuit as well as three former employees including Carlos Candil, now a managing director at Cantor, according to his LinkedIn profile.

Hit the link below to access the complete Bloomberg News article:

Jefferies Sues Cantor in U.K. After Its Bankers Leave for Brokerage

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