The losses keep rolling in for big banks’ trading desks.
Jefferies is taking a hit of nearly $US100 million on it distressed trading desk, according to Laura J Keller and Zeke Faux at Bloomberg.
The bankruptcy of one energy company — private equity-backed Samson Resources — caused a substantial portion of the losses, according to the report.
Jefferies isn’t the only bank to absorb an embarrassing loss this year.
Goldman Sachs’ trading team also lost between $US50 million and $US60 million this summer, according to a separate Bloomberg report, in part thanks to positions in energy companies and an under-performing paper company.
Jefferies is a part of diversified holding company Leucadia National Corp., which acquired the investment bank in 2012.
Leucadia shares are down about 4% this year.
A representative for Jefferies did not comment in time for publication.
To read the full Bloomberg story, click here.
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