Jefferies just hired a former Goldman Sachs partner to a big trading role

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.

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

Jefferies reported equities revenues of $US272 million for the three months ended May 31, bolstered by a $US96 million gain on its stake in KCG Holdings. Stripping that out, underlying revenues were $US176 million, up slightly from underlying revenues of $US168 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.

Get the latest Goldman Sachs stock price here.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at