Jefferies has hired Brandon Mulvihill and Anthony Mazzarese, both formerly at FXCM, as the firm looks to strengthen its FX business by expanding its prime brokerage capabilities.
Mulvihill has been named as managing director, global head of FX prime brokerage, and Mazzarese has been appointed as senior vice president, FX prime brokerage sales. Both will report into Ray Kamrath, global head of FX at Jefferies in New York.
Prior to this, Mulvihill was the global head of FXCM Pro. Mazzarese was a senior vice president at FXCM Pro, and before that, worked in an FX sales role at Citi.
Profit & Loss understands that that these hires are part of a broader strategy by Jefferies to expand its FX capabilities that began with the acquisition of Faros Trading two years ago.
As part of this expansion, Jefferies is looking to put itself in a position to extend customer limits, handle a larger volume of daily transactions, absorb and compress small tickets and to compete with other FX prime brokers.