Chief Executive Officer & Director, JEFFERIES FINANCIAL GRP INC
A conversation with Jeffries CEO Rich Handler
In this episode of On Purpose, Zoetis CEO Kristin Peck talks to Rich Handler, CEO of the Jefferies Group, who puts family above ...
About Richard Handler
Richard Handler, CEO of Jefferies, has been active in discussing Miami's growing role in finance. In a December 2024 interview, Handler stated that he had spent eight days in Miami meeting with 140 clients, including private equity and hedge fund executives. He described Miami as "an active part of the financial system at this point in time" and "a major hub" for transactions and conferences, adding that the consistency of people staying in the area is likely to be maintained. Handler has also spoken about his management philosophy and the importance of avoiding risk. At a 2023 conference, he said that "rule number one has to be do not blow up your company," attributing Jefferies' survival and growth to that principle. He has emphasized the value of mentorship and family, noting in a 2022 interview that he runs a scholarship program for disadvantaged students and that his family is his top priority. In 2014, Handler participated in the ALS Ice Bucket Challenge, jumping into an ice bucket and nominating four individuals, including Tilman Fertitta and Pitbull.
Transcript (11 segments)
K
Kristen0:09
Hello and thank you for joining me for On Purpose, a series where I interview intriguing leaders about their purpose. And today I am thrilled to be joined by Rich Handler, the CEO of Jefferies. So thank you so much for joining me today.
R
Richard Handler0:20
Raj, I'm so excited to be here, Kristen. Thank you.
K
Kristen0:23
Let me start with something you and I are both incredibly passionate about, which is our families and our animals. Tell me a little bit more about what that is to you.
R
Richard Handler0:30
Well, family is number one. I have four kids, wonderful kids. One of the negatives of COVID was everyone had to work from home, but one of the positives was they were all working from our home, so we had a chance to really spend six months with all of them. It makes my whole life complete, and everything I do at the end of the day reflects wanting to make them proud. I'm very blessed, and my wife is just amazing. We've been married for a very long time, over 30 years. She basically raises wolves and helps reintroduce them into the wild. So animals, family, that's who I'm about.
K
Kristen1:05
Talk to me a little about what attracted you to finance. How did you get into that space?
R
Richard Handler1:10
I had a chance to start something relatively small back in 1990. Jefferies had existed, but it was a relatively small company. I joined it because I wanted to build something that I was proud of, quite honestly. I love watching what people like you can do with resources, smarts, ingenuity, and building cultures, and I get to be a part of that in a very small way by helping from the financial side.
K
Kristen1:34
Jefferies has been in the news a lot in the last two years because you've been a tremendous leader through COVID of investing in culture and investing in your people. I wonder if you might share some of that purpose in that culture and what that's meant for you and for Jefferies.
R
Richard Handler1:46
When you become a CEO, you think, 'Oh my gosh, the whole world reports to you now.' And the reality is you report to the whole world. Everyone you work for, everybody. The phone never rings when someone says, 'Hey Rich, great job, you're killing it, I just want to tell you I love it.' It usually is, 'I didn't email you that one.' So thank you, thank you. I waited 27 years for that. But the reality is they call you up when there's a problem, when something didn't go right. You realize the responsibility and privilege that you have to be in a leadership position, and it's something that you don't really get in good times, you really get them in bad times. You were so kind to come in and let me interview you throughout COVID as one of our key speakers. For them to see that other companies and other leaders are really going through what you're going through and how hard it really is for everybody, that humanizes the experience that we all have. That helps our people get through COVID. They can relate to it, they don't feel like they're alone, they're not so isolated. And we tried very hard over the course of the last 18 months to really keep that connection going, and they feel like they're part of something and they feel safe.
K
Kristen2:54
The other thing that I've always admired about you is your focus on developing the next generation of leaders and on mentorship. You and I were at a dinner recently, and you remember the passion coming out of you about how important that was. I wonder if you might share why mentorship matters so much to you.
R
Richard Handler3:11
I feel like you can actually touch lots of people with good advice, good perspective, and the right message at the right point in time to somebody really changes their trajectory in a remarkable way. I'm chairman of the University of Rochester Railway Undergraduate and I chair their investment committee. My real priority and joy is I have a scholarship program. Each year for the last 15 years, we've taken 15 students, the most disadvantaged, who have overcome the most challenging odds but have also done great in high school, which is a remarkable combination. We've given them free educations for four years, and we've been able to not only support them but really be parts of their lives. And the fact of the matter is, when I connect with them and I try to mentor them, they're teaching me. They're teaching me about how they look at life, what their priorities are, the kind of things that they care about. And that helps me as a CEO, it helps me as a person, it helps me as a parent. And you learn and you grow. They think that I'm helping them, and it's really the reverse. So I'm a really big fan of mentorship and taking the time and listening to people and having them in your life. And I love having young people in my life, I really do.
K
Kristen4:22
Thank you so much for joining me, and thank you for your friendship. It has continued to inspire me. You are one of the most purpose-driven leaders that I work with. And thank you all for joining us for On Purpose. I hope you join us next month.