Jefferies has named its new global head of investment banking and capital markets.

Benjamin Lorello, who will assume the new role, joined the firm in July to serve as chairman of investment banking. Lorello has more than 32 years of investment banking experience on Wall Street, according to today's press release.

Jefferies Chairman and CEO Richard Handler said Lorello has "already made a significant contribution" to its business and has helped to bring in important clients and vital business practices. Because of the new appointment, Handler is optimistic about the firm's growth.

"We look forward to Ben [Lorello] making an even greater contribution in this new role, accelerating our growth and market share in investment banking and capital markets," Handler said in the statement.

Prior to joining the firm, Lorello served as UBS's vice chairman and global head of healthcare investment banking. Additionally, he has held lead investment banking roles at Salomon Smith Barney and Shearson Lehman Brothers, the Oct. 27 release said.

"I am pleased to have the opportunity to apply my many years of experience to the vast business opportunity available to Jefferies today," Lorello said of his new appointment.

The New York City-based group serves an advisor its investors on finances and capital markets, institutional brokerage options, securities and asset management. It has been in existence for more than 45 years.

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