Jefferies Group Inc. said Thursday that it bought Putnam Lovell, the financial services advisory arm of National Bank of Canada.
The price was not disclosed. Through the purchase, Jefferies obtained 21 investment bankers in New York, London, and San Francisco.
The purchase is Jefferies' fifth industry-focused one in as many years. Recent acquisitions have included Randall & Dewey, a mergers and acquisition adviser for the oil and gas industry, and LongAcre Partners, a London advisory firm focused on media companies.
"Increasingly, there are interesting opportunities to fund [middle-market financial services] businesses in the capital markets," Chris Kanoff, co-head of investment banking at Jefferies, said in an interview. "This gives us a great opportunity to start to develop more fully our financial services practice."
