Jefferies, Sumitomo Mitsui Expand Alliance to Canada (Correct)

Sumitomo Mitsui Financial Group Inc., one of Japan’s largest banks, is deepening an alliance with Jefferies Financial Group Inc., with the two companies announcing plans to work together on corporate and investment banking deals in the Canadian market.

New York-based Jefferies started a full-service investment bank in Canada in December, opening a Toronto office with more than 40 employees. It recruited a number of investment bankers and equity research analysts from rival Barclays Plc’s Canadian operations, including its president and chief executive officer, Bruce Rothney, who is now CEO of Jefferies Canada.

A customer enters a branch of Sumitomo Mitsui Banking Corp., a unit of Sumitomo Mitsui Financial Group Inc., in Tokyo on Jan. 25, 2023.

Photographer: Kiyoshi Ota/Bloomberg

“Jefferies will ...