First Brands
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Jefferies CEO & President Address Point Bonita Capital and First Brands Group
On October 12, 2025, Jefferies Financial Group addressed investor concerns regarding the First Brands bankruptcy. CEO Rich Handler and President Brian Friedman issued a letter emphasizing Jefferies’ strong financial position, citing $10.5 billion in total equity and $11.5 billion in cash reserves. They highlighted a strengthened partnership with SMBC, including new credit facilities. While acknowledging a potential $45 million loss related to First Brands, Jefferies downplayed its impact and denied any prior knowledge of fraud, aiming to reassure investors of the firm’s overall stability.
