The managing director at global investment banking firm Jefferies & Co. is leaving to join a distressed debt hedge fund.
Reuters reported that Markman Peters, who joined Jefferies & Co. in 2009 to run and expand its wealth management business, has started working at New York-based Whippoorwill Associates where he is responsible for raising funds.
Peters’ functions have been temporarily taken by the chief operating officer of Jefferies’ wealth management business, Frank Scheuer. Jefferies will conduct a search for a replacement from internal and external candidates.
Jefferies has brokerage offices in New York, Atlanta, Boston, Dallas, Los Angeles and San Francisco, and plans to open an office in Hong Kong in the next several months.