Finance for Liberal Arts Majors
Leary, Elizabeth P.
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Over the summer of 1998, I was invited to the Jefferies office on Fifth Avenue in New York to participate in an internship in the domestic convertibles department. Jefferies is neither a bulge bracket investment banking firm, (e.g. Morgan Stanley Dean Witter, Lehman Brothers, Goldman Sachs) nor was it so small to warrant dismissal upon mention of the name. To everyone's surprise, it had managed to remain an independent company despite the breathtaking mergers and consolidation that has marked this industry at this time. As a strategy, Jefferies' focus was on becoming a niche player to small and mid-cap sized companies. As a culture, Jefferies had the advantage of a small company atmosphere and yet the resources and respect of a global corporation. The chance to observe this company first hand was an awesome opportunity to build upon a background working with small businesses, and to learn more about the process by which these small businesses eventually become giants.