Jefferies hires Farooqi as post-restructuring equity analyst

New York, Sept. 30 - Jefferies & Co., Inc. said it hired Farukh Z. Farooqi as post-reorganization equity analyst.

Farooqi will follow post-reorganization equity securities as part of the firm's overall focus on the restructuring area.

Jefferies said the creation of the new position will enable it to leverage the insights and relationships gained from its strong standing in special situations and Bulletin Board trading.

It added that the addition extends its commitment to distressed middle-market companies for the benefit of institutions that invest in them.

Jefferies added a Bulletin Board equity trading desk in the fall of 2002 to better serve clients focused on special situations and the securities of distressed companies in or out of bankruptcy.

"With Jefferies' status as a leading trader of distressed and post Chapter 11 debt and equity securities, this hire will help to combine the resources of our powerful high yield and equity trading operations in the form of a research product to assist both fixed income and equity investors," said John C. Shaw, Jr., president of Jefferies, in a news release.

Farooqi was previously at Merrill Lynch for four years, where he followed conglomerate companies as a senior analyst in the multi-industry sector.

Farooqi will report to Steven R. Black, director of equity research, and will work closely with Joseph P. von Meister, senior analyst of distressed and special situations in Jefferies' high yield area. He will be based in the firm's Short Hills, N.J. office.

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