Jefferies Moves Banking Services to Cloud in Deal With Amazon

Jefferies Financial Group Inc. is moving its information-technology services to the cloud in partnership with Amazon.com Inc.

The move is the latest among financial firms that started to expand into cloud-based software and data analytics in recent months. The four-year agreement with Amazon Web Services allows Jefferies to transfer its core business systems, internal and customer-facing applications, IT resources and data to AWS, according to a statement Tuesday.

“This is a game changer for our firm and for the industry overall,” Vikram Dewan, chief information officer at Jefferies, said in an interview. “We are becoming more and more data-dependent, ...