Jefferies Hires BNP Exec to Boost Bond ETF Trading: Report

ETF Trends

Jefferies Group (NYSE: JEF - News) has hired Jared Epstein, former head of flow credit trading at BNP Paribas, to take the helm of the asset manager’s new division for fixed-income exchange traded fund trades, according to a report.

Epstein is coming in to help build Jefferies’ expansion into ETFs tied to debt, report Matthew Leising and Lisa Abromowicz for Bloomberg.

Jefferies provides clients with market-making services for equity ETFs. They are seeking to offer debt-related ETF services.

Fixed-income ETFs have grown in popularity after the volatility scare witnessed last year and on assurances from the Federal Reserve that interest rates will remain at their near-zero levels at least until late 2014. Specifically, high-yield, junk bond ETFs have drawn higher inflows as investors sought out areas with greater yields in a times of historic low Treasury yields.

The asset manager also sponsors two ETFs:

The company has stated its intent to expand into the ETF industry, but has not launched any new recent offerings. [Jefferies Has Big Plans for Growing ETF Line]

Max Chen contributed to this article.

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