Jefferies Tells Bankers to Collaborate to Max Out Bonus, FT Says

Jefferies Financial Group Inc. has told top bankers that they must collaborate in order to maximize their bonuses, the Financial Times reported.

The change was communicated by President Brian Friedman to managing directors at a recent offsite meeting of managing directors, the FT said, citing people it didn’t identify. The change is designed to support the bank’s ambitions to work more on larger corporate transactions, which typically require large teams and bank-wide co-operation.

Friedman told the FT that messaging was designed to quash any thinking that its bankers “can work on a narrow basis and that might result in ...