Jefferies Group said its long-time Chief Financial officer Peg Broadbent has died from complications after being infected by a coronavirus, marking one of the first deaths among senior Wall Street executives from the pandemic. He was 56.
Broadbent had been CFO at the Newyork financial services company and investment bank since November 2007, following a 16-year career at Morgan Stanley, Where he was head of institutional controllers for fixed income, equity, and investment banking. He was also a chartered accountant in the UK. “For over a dozen years, Peg has been our CFO and partner, and helped us build Jefferies from less than half its current size, and navigate through hard times and good times,” the company said in a statement Sunday, with CEO Rich Handler saying the team is “heartbroken” by the news.
Colm Kelleher, who stepped down as Morgan Stanley’s President last year and remains a senior adviser to the bank, described the news as “a terrible tragedy”. “Peg was at Morgan Stanley for a large part of his career. He was very smart and will be much missed. Our thoughts go to his family.”
Global deaths from the coronavirus have now surpassed 30,000. The United States now has the most confirmed cases worldwide, and the centers for Disease Control has issued a travel advisory urging people in New York, New Jersey, and Connecticut to refrain from non-essential domestic travel for the next two weeks.
Broadbent, who was in good health prior to his coronavirus diagnosis, is survived by his wife Hayley, a former Morgan Stanley executive, their Children Sebastian and Peg, and his older children Anna, Sophie and Charlie
Broadbent grew up in London and Dorest before earning a BSc from the University of Exeter and becoming a chartered accountant. He began his career at Cooper & Lybrand, a predecessor firm of PwC, before joining Morgan Stanley in 1991.
The news comes just two days after jefferies reported its highest revenue, of $1.17bn for the three months ended February 20. Mr Handler said the result proved the bank “entered this period of duress in the healthiest position in our history.”
