Because smaller companies need hostile-takeover advice, too. A full-service investment bank founded in 1962, Jefferies Group (along with its main subsidiary Jefferies & Company) raises capital, performs securities trading and research, and provides advisory services for small and midsized companies in the US. Serving about 2,000 institutional clients worldwide, the company also trades derivatives and commodities and makes markets for some 5,000 US and international equities. With more than $45 billion in assets, Jefferies Group invests on behalf of investors, companies, and national and local governments. In a friendly deal, Jefferies became a subsidiary of its largest shareholder, Leucadia, in 2013.