Jefferies Gives Senior Officials New Title, Duty

Jefferies & Co., a Los Angeles brokerage firm, has realigned its management team to give senior officials in each of its offices more responsibility for the firm’s overall direction.

In addition, Baxter and executive vice presidents Alan D. Browning and Raymond L. Killian Jr. have been designated as senior managing directors of the firm. Baxter and Browning are based at Jefferies’ Los Angeles headquarters, while Killian is based in Boston.

In April, the firm’s founder and former chairman, Boyd Jefferies, pleaded guilty to two counts of securities violations in connection with the Boesky scandal.

According to Frank Baxter, president and chief executive, Jefferies’ senior and executive vice presidents have been given the additional title of managing director. They will act as a group to “enable Jefferies to be more responsive to its customers, not just on a office-by-office basis, but throughout our entire system,” Baxter said.