Jefferies and SMBC Expand Global Alliance

Jefferies Financial Group, Inc. and Sumitomo Mitsui Financial Group, Inc., Sumitomo Mitsui Banking Corporation, and SMBC Nikko Securities Inc. announced that they are significantly expanding their Global Strategic Alliance. According to a story in MarketsMedia news, SMBC Group and Jefferies initially entered into a Strategic Alliance in 2021 to collaborate on future corporate and investment banking business opportunities. In 2023, the Alliance was expanded to enhance collaboration across M&A, equity and debt capital markets, with a particular focus on investment grade clients in the U.S. SMBC Group and Jefferies subsequently added Memoranda of Understanding to expand their alliance to the EMEA region, Canada, Asia and Australia, as well as to expand the scope of Joint Coverage initiatives to larger global sponsors, pre-IPO companies, and sub-investment grade corporate clients.