The Jefferies & Co. unit of Jefferies Group Inc. has hired Merrill Lynch & Co. Inc. veterans, Daniel Markaity and Christopher Bury, as co-heads of its fixed-income rates business.

The two will also be managing directors at Jefferies, whose fixed-income business has added 50 senior professionals over the past nine months.

The company's fixed-income rates business includes institutional sales and trading of Treasury and government agency securities, as well as the repurchase finance business.

Jefferies said in Wednesday's announcement that both men will join the New York company in February. Mr. Markaity worked at Merrill for more than 27 years, most recently as a managing director and head of global public credit. Mr. Bury spent 13 years at Merrill, most recently as a director and co-chief executive of Merrill Lynch Government Securities Inc.

Bank of America Corp. bought Merrill Lynch on Jan. 1.

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