Jefferies Group Names New President

Times Staff and Wire Reports

Michael L. Klowden, vice chairman of Jefferies Group Inc., has been elected president and chief operating officer of the Los Angeles-based firm and of its principal operating subsidiary, investment bank Jefferies & Co. Klowden, 51, joined Jefferies in April 1995 as vice chairman of the board, and as a member of the office of the chairman of Jefferies & Co. He was previously one of the senior managing partners of Morgan, Lewis & Bockius law firm, and has served since 1980 as Jefferies outside counsel.

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