SMBC alliance powers Jefferies, the unstoppable force in IB
![Jefferies sign in 2019 from Alamy 25Jul24 575x375](https://assets.euromoneydigital.com/dims4/default/7c1e883/2147483647/strip/true/crop/575x383+0+0/resize/840x560!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2Fb4%2F86%2F088b5d53407dbd6de3f20f27f69a%2Fjefferies-sign-in-2019-from-alamy-25jul24-575x375.jpg)
The US challenger has embarked on another aggressive round of hiring from rivals. Armed with a balance sheet, it wants to break into Europe’s top five
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