Toru Nakashima, President & CEO of SMFG, appointed to Jefferies Board; SMBC ownership increased to 10.9%

Jefferies Financial Group Inc.

Nakashima, President and Group CEO of Sumitomo Mitsui Financial Group, joined Jefferies Board on August 12, 2024.
SMBC's economic ownership in Jefferies increased to 10.9%, entitling SMBC to nominate one board member; intends to reach up to 15%.
Nakashima will not receive director compensation and is not expected to serve on any Board committees.
Strategic alliance between Jefferies and SMBC Group, started in 2021, expanded in 2023 to include M&A, equities, debt capital markets, and in 2024 to EMEA and Canada.
Alliance includes business referrals, credit facilities (nothing outstanding), and repurchase agreements between Jefferies subsidiaries and SMBC.

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