Richard B. Handler
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Richard B. (Rich) Handler (born May 23, 1961) is Chief Executive Officer and Director of Leucadia National Corporation, a diversified investment holding company with its largest operating company being investment bank Jefferies. Handler is also Chairman, Chief Executive Officer, and President of Jefferies. Handler joined Jefferies in 1990 and was appointed CEO in 2000 and Chairman in 2001. Jefferies is one of the largest independent investment banks with 3,859 employees in 30 offices located in 11 countries. Handler is one of the longest standing CEOs of a Wall Street firm. He grew up in Fair Lawn, New Jersey and Woodcliff Lake, New Jersey.
"For the 23 year period Mr. Handler has worked at Jefferies, Jefferies shares compounded annually at 22%. Since Mr. Handler joined Jefferies in 1990, he has always taken a significant portion of his compensation in equity form. For the 13 year period since he became CEO, 76% of Mr. Handler’s compensation has consisted of non-cash equity related securities vesting over three to five years. Aside from charitable donations and the payment of taxes, Mr. Handler has never sold any of his Jefferies shares."
Richard Handler is also chairman and CEO of the Handler Family Foundation, a personally funded non-profit working primarily with underprivileged children. Handler received an MBA from Stanford University in 1987, where he serves on the Business School Advisory Board. He received his BA in Economics (Magna Cum Laude/High Distinction) from the University of Rochester in 1983 where he also serves on the Board of Trustees and is Chairman of the University’s Finance Committee and Co-Chairman of the University's Capital Campaign. Handler has donated $25 Million for the Jane and Alan Handler Scholarship Fund (in honor of his parents) which pays all expenses for 4 years for exceptional students deemed to be potential future leaders who come from disadvantaged backgrounds.
On August 1, 2012, Knight Capital took a pre-tax loss of $440m due to a trading glitch. On Sunday Aug. 5 the company raised capital of $400 million from investors led by Jefferies. Jefferies CEO Richard Handler and Executive Committee Chairman Brian Friedman structured and led the rescue and Jefferies purchased $125 million of the $400 million investment to became Knight's largest shareholder. Knight Capital’s rescue is detailed in Edgar Perez’s book, Knightmare on Wall Street: The Rise and Fall of Knight Capital and the Biggest Risk for Financial Markets, released on the day of the incident’s one-year anniversary, August 1, 2013.
Handler became CEO of Leucadia National Corp. in March 2013, on the takeover of Jefferies by Leucadia.
- Jefferies 2012 10K filed 1/29/13, page 165.
- "Exceptional Students in Financial Need Scholarship Commitment Is Increased to $25 Million, Representing the University of Rochester's Largest Contribution to Scholarships in Its History". February 1, 2011.
- "Jefferies Early On Was Friend to Knight". August 6, 2012.
- Laura Marcinek (2013-04-02). "Jefferies CEO Says He Sued on Tribeca Neighbors’ Behalf". Bloomberg.