Bull Bear Report Jan 04 2011

Jefferies Hires Tedesco for Top U.S. M&A Position from Citigroup

By julie steinberg

Michael Tedesco has been named global head of tech M&A and U.S. head of M&A at Jefferies, the firm announced today. He will join as a managing director and be based in the Silicon Valley office.

"We are very pleased to welcome Michael to Jefferies. His broad-based M&A experience and client relationships will be of great value in helping Jefferies continue to build our successful M&A business in the United States," said John E. Huwiler, global head of M&A at the bank, in a statement.

Tedesco, previously a technology banker who worked at Citigroup, will report to Benjamin Lorello, who was named head of investment banking in September 2009.

Bloomberg reported a rumor that Tedesco would be joining up with Jefferies at the end of 2010 after leaving Citigroup in October.

Before joining Jefferies, Tedesco was a managing director and head of technology, mergers and acquisitions at Citigroup. He attended Montana State University for his undergraduate degree and received his MBA from Harvard Business School.

Jefferies has embarked on a global hiring spree over the past several months, particularly in the investment banking sector. The sector provided almost half the firm's revenue last quarter and the bank is still looking to add headcount.

Write to Julie Steinberg

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