Jefferies just hired a former Goldman Sachs partner for a big derivatives role

A trader works on the floor of the New York Stock Exchange shortly after the opening bell in New YorkThomson Reuters

Jefferies has hired Peter Seccia, a former Goldman Sachs partner, as global head of equity derivatives.

He will be based in New York, and will work closely with global head of equities Peter Forlenza and Matt Foulds, global head of equities distribution.

“Peter’s global experience and longstanding relationships further strengthen Jefferies’ extensive credentials in equities and beyond,” Forlenza and Foulds said in a statement.

Seccia left Goldman Sachs in 2016, having started his career in the J.Aron division in foreign exchange derivative trading back in 1989. He was named partner at Goldman Sachs in 2008 and headed the North American derivatives sales business for the equities division.

Jefferies reported equities revenues of $272 million for the three months ended May 31, bolstered by a $96 million gain on its stake in KCG Holdings. Stripping that out, underlying revenues were $176 million, up slightly from underlying revenues of $168 million the same quarter a year earlier.

“Our core equity sales and trading business enjoyed a solid quarter and, despite quiet market activity and low volatility, our global cash businesses continued to gain market share,” Rich Handler, chairman and CEO, and Brian Friedman, chairman of the executive committee, said in a statement.