Richard B. Handler

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Richard B. (Rich) Handler (born May 23, 1961) is an American businessman, currently the CEO and director of Leucadia,[1] as well as the Chairman of the Board and CEO of Jefferies Group.[2]

Early life and education[edit]

Handler grew up in New Jersey, graduating in 1979 from Pascack Hills High School in Montvale, New Jersey.[3] Handler received a BA in economics from the University of Rochester in 1983 and an MBA from Stanford University in 1987.[4] Before graduate school, he worked as an investment banker at First Boston, and after as a junk bond trader for Michael Milken at Drexel Burnham Lambert.[3]

Professional career[edit]

Handler joined Jefferies in April 1990 as a salesman and trader[3] and was appointed CEO on January 1, 2001,[5] Chairman in 2002.[3] During his time at Jefferies, between 1990 and 2012, shares compounded annually at 22%.[6] In March 2013, Jefferies merged with Leucadia, and Handler became CEO of both companies.[7] In April 2012, Handler and Chairman of the Jefferies Executive Committee Brian Friedman formed the Jefferies Global Senior Advisory Board, which now includes James D. Robinson III, Lord Hollick, Michael Goldstein, Bernard Bourigeaud, Dennis Archer, Sir David Reid,[8] Gilles Pélisson,[9] and G. Richard Wagoner.[10] In August 2012, Handler played a lead role in saving Knight Capital Group after they suffered a $440 million loss due to a 'technology glitch.' Together with Brian Friedman, Handler structured and led the rescue,[11] which included making Jefferies the largest shareholder with an investment of $125 million.[12]

Richard Handler is also Chairman and CEO of the Handler Family Foundation and serves on the Advisory Council of the Stanford University School of Business.[13] For the University of Rochester, Handler serves on the Board of Trustees,[14] as Chairman of the Finance Committee,[13] and as Co-Chairman of the university's Capital Campaign.[15] Handler has donated $25 million for the Jane and Alan Handler Scholarship Fund (named for Handler's parents) for exceptional students from underprivileged backgrounds with the potential for future leadership.[16]

Compensation[edit]

From 2004 to 2014, 78% of Richard Handler’s compensation has been paid in stock.[6]  Assuming Handler continues his employment with Leucadia through all vesting and deferral periods, he will own 11,240,470 shares of Leucadia.[17]  Handler has never sold shares of Leucadia or Jefferies, with the exception of charitable donations and a one-time sale for tax purposes.[18]

References[edit]

  1. ^ Letter to Shareholders 2/28/14 http://www.leucadia.com/c-p_letters/luk_c-p2013.pdf
  2. ^ Jefferies Officers and Directors Listing http://investor-relations.jefferies.com/od.aspx?iid=102756
  3. ^ a b c d Bloomberg Article 12/19/11 http://bloomberg.com/news/2011-12-19/jefferies-s-intensely-private-handler-lifts-firm-s-veil-to-defend-legacy.html
  4. ^ Stanford School of Business Bio https://www.gsb.stanford.edu/advisorycouncil/handler.html
  5. ^ Business Wire http://www.thefreelibrary.com/Jefferies+Announces+Leadership+Change%3B+Richard+Handler+Named+CEO,...-a065822953
  6. ^ a b Jefferies SEC Report 2012 http://www.sec.gov/Archives/edgar/data/1084580/000119312513027253/d438142d10k.htm#tofc438142_18
  7. ^ Jefferies Press Release http://www.jefferies.com/News/PressReleases/201/304
  8. ^ Reuters http://www.reuters.com/article/2012/04/16/idUS117101+16-Apr-2012+BW20120416
  9. ^ Jefferies Press Release http://www.jefferies.com/News/PressReleases/201/272
  10. ^ Businessweek http://investing.businessweek.com/research/stocks/people/person.asp?personId=177132&ticker=GM
  11. ^ New York Times http://dealbook.nytimes.com/2012/08/06/knight-capital-skirts-collapse-as-investors-offer-lifeline/?_php=true&_type=blogs&_r=0
  12. ^ Fox Business http://markets.m.foxbusiness.com/quickPage.html?page=32642&content=77699041&pageNum=-1
  13. ^ a b Forbes Profile http://www.forbes.com/profile/richard-handler/
  14. ^ University of Rochester Board of Trustees http://www.rochester.edu/aboutus/trustees.html
  15. ^ University of Rochester Capital Campaign http://campaign.rochester.edu/volunteer-leadership
  16. ^ University of Rochester press release http://www.rochester.edu/news/show.php?id=3758
  17. ^ Leucadia SEC Proxy Statement 2014 - Page 25 http://www.sec.gov/Archives/edgar/data/96223/000093041314001565/c77050_def14a.htm
  18. ^ Leucadia SEC Proxy Statement 2014 - Page 32 http://www.sec.gov/Archives/edgar/data/96223/000093041314001565/c77050_def14a.htm

External links[edit]