Before his tenure at the Federal Reserve Board, Mr Zervos spent five years as a portfolio manager at Brevan Howard and UBS O’Connor, specializing in global macro investment strategies. Previously, he directed mortgage and derivative strategy at Greenwich Capital Markets and also worked in international fixed income strategy at Swiss Bank.

Tim Cronin, global head of fixed income at Jefferies, said: “Mr Zervos brings tremendous experience, knowledge and relationships to our fixed income platform and will help support Jefferies’ ongoing success. As we continue to extend our firm’s capabilities, this hire further demonstrates Jefferies’ commitment to providing our institutional clients with valuable insight and perspective.”

Jefferies said that its fixed income business now has more than 450 professionals globally who are focused on the sales and trading of investment grade corporate bonds, high yield bonds, government and agency securities, repo finance, mortgage- and asset-backed securities, municipal bonds, whole loans, leveraged loans, distressed securities and emerging markets debt.