Reuters: Deals: Jefferies eyeing setting up European financing arm-FT

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Jefferies eyeing setting up European financing arm-FT Mar 27th 2012, 00:37 LONDON | Mon Mar 26, 2012 8:37pm EDT LONDON (Reuters) - Midsize investment bank Jefferies Group Inc (JEF.N) is looking to set up a corporate lending business in Europe as part of its expansion plans in the region, the Financial Times reported on Tuesday. The bank plans to establish a European financing arm this year in an effort to grab market share from rivals scaling back corporate lending, the FT said. "We are working actively to develop corporate lending capacity <in Europe> and have underwritings in process," Brian Friedman, chairman of Jefferies' executive committee, was quoted as saying in the report. Jefferies snapped up historic British stockbroker Hoare Govett from Royal Bank of Scotland (RBS.L) in February as part of its expansion in the London marketplace. Jefferies could not be immediately reached for comment outside normal U.S. business hours.

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