Jefferies, the New York-headquartered advisory firm, is upending the local investment banking market with how it goes about hiring, offering lucrative terms such as cash sign-on bonuses instead of parcels of shares staggered over many years.
But it’s a two-way street. The bank that traces its roots back to the 1960s also makes demands of dealmakers that are highly unusual in Australia such as a so-called break-up fee for wavering recruits, and clawbacks of those upfront and annual bonuses for those who leave.
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Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
