Rich Handler

Last updated
Richard B. Handler
Born (1961-05-23) May 23, 1961 (age 63)
Education University of Rochester (BA)
Stanford University (MBA)
SpouseMartha Hunt Handler

Richard B. "Rich" Handler (born May 23, 1961) is an American businessman and chief executive officer (CEO) of Jefferies since 2001, making him the longest-serving CEO on Wall Street. [1]

Contents

Early life and education

The son of Alan and Jane Handler, Richard Handler grew up in New Jersey, graduating in 1979 from Pascack Hills High School in Montvale. [2] [1] He received a BA in economics from the University of Rochester magna cum laude in 1983 and an MBA from Stanford University in 1987. [3] Prior to Jefferies, he was an investment banker at First Boston and later he worked for Michael Milken at Drexel Burnham Lambert in the high-yield bond department. [2]

Professional career

Jefferies

Handler joined Jefferies in April 1990 as a salesman and trader. [2] He was appointed CEO on January 1, 2001 [4] and Chairman in 2002, succeeding Frank E. Baxter. [2] Handler also is Chairman of Jefferies' Global Diversity Council. [5] When Handler joined as CEO, Jefferies had been primarily known as a trading firm with expertise in the energy sector. [6] As of 2022, Jefferies had become the 8th largest investment bank by revenue and the sixth busiest in mergers and acquisitions. [7] As of 2021, Handler owned more than 7% of the stock. [8]

Rescue of Knight Capital Group

In August 2012, Handler played a lead role in saving Knight Capital Group after the company suffered a $440 million loss due to a 'technology glitch.' Together with Brian Friedman, the President of Jefferies Financial Group, Handler structured and led the rescue, [9] making Jefferies the largest shareholder with a roughly 45% stake in the company. [10]

Merger with Leucadia

In November 2012, Jefferies announced its merger with Leucadia National Corporation, its largest shareholder and a longtime partner of Handler. In March 2013, Jefferies merged with Leucadia, [11] and Handler became CEO of both companies. [12] In 2018, Leucadia rebranded as Jefferies Financial Group Inc. to better reflect the company’s business focus. [13]

Other professional activities

In October 2018 Handler was named Board Chair by The University of Rochester Board of Trustees, to which he was first elected in 2005. [14] [15] Previously, Handler was Chairman of the Finance Committee and as Co-Chairman of the university's $1.37 billion Capital Campaign, The Meliora Challenge that concluded in 2016. [16]

Handler is active on social media, where he often runs ‘ask me anything’ sessions on Instagram targeted at the next generation of bankers and traders. [17] [18]

Philanthropy

In 2006, Handler and his wife, Martha, established a scholarship program at the University of Rochester. Named the Jane and Alan Handler Scholarship Fund (after his parents), the program provides financial support for undergraduates of diverse backgrounds who meet certain criteria of financial need, overcoming adversity and demonstrating leadership. The scholarship is awarded to one percent of each graduating class and covers all tuition and expenses. [16] [19]

Handler is also active in conservation efforts through the Wolf Conservation Center, of which his wife presides as president. [20]

Related Research Articles

<span class="mw-page-title-main">Simon Business School</span> Business school at University of Rochester

Simon Business School is the business school of the University of Rochester. It is located on the university's River Campus in Rochester, New York. It was renamed in 1986 after William E. Simon (1927–2000), the 63rd United States Secretary of the Treasury. The school's current dean is Sevin Yeltekin.

<span class="mw-page-title-main">University of Virginia Darden School of Business</span> Business school of the University of Virginia

The Darden School of Business is the graduate business school of the University of Virginia, a public research university in Charlottesville, Virginia. The school offers MBA, PhD, and Executive Education programs.

<span class="mw-page-title-main">Sallie Krawcheck</span> American business executive

Sallie L. Krawcheck is the former head of Bank of America's Global Wealth and Investment Management division and is currently the CEO and co-founder of Ellevest, a digital financial advisor for women launched in 2016. She has been called "the most powerful woman on Wall Street."

<span class="mw-page-title-main">Jefferies Financial Group</span> American financial services company

Jefferies Financial Group Inc. is an American financial services company based in New York City and listed on the Fortune 1000.

Jefferies Group LLC is an American multinational independent investment bank and financial services company that is headquartered in New York City. The firm provides clients with capital markets and financial advisory services, institutional brokerage, securities research, and asset management. This includes mergers and acquisitions, restructuring, and other financial advisory services. The Capital Markets segment also includes its securities trading and investment banking activities.

Alan David Schwartz is an American businessman and is the executive chairman of Guggenheim Partners, an investment banking firm based in Chicago and New York City. He was previously the last president and chief executive officer of Bear Stearns when the Federal Reserve Bank of New York forced its March 2008 acquisition by JPMorgan Chase & Co.

<span class="mw-page-title-main">UNC Kenan–Flagler Business School</span> Business school at UNC-Chapel Hill

The UNC Kenan-Flagler Business School is the business school of the University of North Carolina at Chapel Hill, a public research university in Chapel Hill, North Carolina. Founded in 1919, the school was renamed to its current name in 1991 in honor of Mary Lily Kenan and her husband, Henry Flagler.

Edward "Ed" Liddy is an American businessman who was chairman of the Allstate Corporation from 1999 to 2008.

<span class="mw-page-title-main">Elizabeth Ashburn Duke</span> American Federal Reserve Governor

Betsy Duke is an American bank executive who served as a member of the Federal Reserve Board of Governors from 2008 to 2013. Duke was confirmed by the Senate to fill an unexpired term ending January 31, 2012. She was the seventh woman to be appointed to the board. In July 2013, she announced her resignation from the board.

<span class="mw-page-title-main">Lorenzo Fertitta</span> American entrepreneur

Lorenzo Joseph Fertitta is an American billionaire businessman and philanthropist. He is chairman of Fertitta Capital, director of Red Rock Resorts Inc, and former CEO of the Ultimate Fighting Championship.

<span class="mw-page-title-main">George Washington University School of Business</span>

The George Washington University School of Business is the professional business school of George Washington University in Washington, D.C. The GW School of Business is ranked as one of the top business schools in the United States, with globally ranked undergraduate and graduate programs. GW's campus is also adjacent to some of the world's leading financial institutions, including the Federal Reserve, World Bank, and International Monetary Fund.

Richard Ong Tiong Sin is a Malaysian businessman and investor. He is the founder, chairman, and CEO of RRJ Capital, one of the largest private equity funds based in Asia. Richard was also a founder and CEO of Hopu Fund 1, a Beijing-based private equity fund.

<span class="mw-page-title-main">Ellen Alemany</span> American business executive

Ellen Rose Alemany is an American business executive. She is the Vice Chairwoman of First Citizens BancShares. She was formerly the chairwoman of CIT Group.

<span class="mw-page-title-main">Knight Capital Group</span> Former American financial services firm

The Knight Capital Group was an American global financial services firm engaging in market making, electronic execution, and institutional sales and trading. With its high-frequency trading algorithms Knight was the largest trader in U.S. equities, with a market share of 17.3% on NYSE and 16.9% on NASDAQ. The company agreed to be acquired by Getco LLC in December 2012 after an August 2012 trading error lost $460 million. The merger was completed in July 2013, forming KCG Holdings.

FXCM, also known as Forex Capital Markets, is a retail foreign exchange broker for trading on the foreign exchange market. FXCM allows people to speculate on the foreign exchange market and provides trading in contract for difference (CFDs) on major indices and commodities such as gold and crude oil. It is based in London.

John P. Costas is an American businessman, banker, and trader. He is the former chairman and CEO of UBS Investment Bank, where he oversaw the growth of the Swiss bank's investment banking franchise globally from 2000 to 2005. From 2005 through 2007, Costas was the chairman and CEO of Dillon Read Capital Management, a UBS proprietary trading unit and alternatives management company.

Elisabeth DeMarse is an American businesswoman, and the former Chairwoman, CEO, and President of TheStreet.com. As of 2022, she is a board member of the NYC-based ad-fraud prevention and marketing company Kubient Inc.

John H. Hammergren is an American businessman. He is best known for his role as chairman and CEO of McKesson Corporation since 1999. On November 1, 2018, Hammergren announced his plan to retire. On April 1, 2019, he officially retired from McKesson. He was succeeded by Brian Tyler.

Beth Elaine Mooney is an American financial executive who is the first woman to be CEO of a top-20 U.S. bank. On May 1, 2011 KeyCorp named Mooney its chairwoman and chief executive officer of the Cleveland, Ohio-based bank. From November 2010 until May 1, 2011, she was the president and the chief operating officer at KeyCorp.

References

  1. 1 2 "10 Things You Didn't Know About Jefferies Financial CEO Richard Handler". Money Inc. November 13, 2021.
  2. 1 2 3 4 "'Intensely Private' Handler Lifts Veil in Defense of Jefferies". Bloomberg.com. 2011-12-19. Retrieved 2021-10-08.
  3. ↑ "Richard B. Handler, MBA '87". Archived from the original on 2014-03-26. Retrieved 2023-08-09.
  4. ↑ "Jefferies Announces Leadership Change; Richard Handler Named CEO, Will Lead Firm with President and COO John Shaw; Frank Baxter Remains Chairman". Archived from the original on 2014-05-02. Retrieved 2023-08-09.
  5. ↑ "DEFINITIVE PROXY STATEMENT". www.sec.gov. Retrieved 2024-04-07.
  6. ↑ Strongin Dodds, Lynn. "Jefferies revamps its image". www.fnlondon.com.
  7. ↑ Russell-Walling, Edward. "Jefferies delivers cross-border M&A success". www.thebanker.com.
  8. ↑ Natarajan, Sridhar (7 October 2021). "Wall Street's Newest Billionaire CEO Is Beating His Banking Rivals in Best Year Ever". Bloomberg.com.
  9. ↑ Popper, Ben Protess and Nathaniel (2012-08-07). "Quick Lunge for a Lifeline Helped Knight Capital Skirt Collapse". DealBook. Retrieved 2023-08-09.
  10. ↑ Philbin, Brett. "Knight Deal Could Add To Jefferies' Windfall As Lead Rescuer". WSJ. Retrieved 2024-04-07.
  11. ↑ Alden, William (2014-04-02). "Handler, Leucadia's Chief, Takes Pay Cut in New Role". DealBook. Retrieved 2023-08-09.
  12. ↑ Jefferies Press Release http://www.jefferies.com/News/PressReleases/201/304 [ dead link ]
  13. ↑ "Leucadia to shed most non-financial assets, rename as 'Jefferies'". Reuters. April 9, 2018.
  14. ↑ "Richard Handler - Forbes". Forbes . 2013-01-19. Archived from the original on 2013-01-19. Retrieved 2022-07-22.
  15. ↑ "About the University of Rochester". University of Rochester. Retrieved 2022-07-22.
  16. 1 2 "Richard Handler '83 elected University Board chair". University of Rochester. October 5, 2018.
  17. ↑ "Meet the Jefferies boss: Rich guy without a handler". Australian Financial Review. 7 March 2024.
  18. ↑ Rosa Royle, Orianna. "Wall Street CEO advises anyone struggling with work-life balance to 'take control of their own choices'". Fortune.
  19. ↑ "Richard B. Handler '83". University of Rochester.
  20. ↑ "Wolves of Wall Street Party to Save Actual Wolves of Westchester". Bloomberg L.P. June 6, 2019.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.