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Wednesday, February 4, 2015

Jefferies CEO Richard Handler turns down bonus, (NYSE: LUK)

Richard Handler, the chief executive of Leucadia National Corp, parent of investment bank Jefferies Group LLC, turned down his bonus for the previous year, which was dogged by lackluster performance. Handler, also the CEO of Jefferies, was entitled for a performance-based cash bonus of $2.2 million for the year ended Nov. 30, Leucadia said in a regulatory filing.Leucadia's president and Jefferies' chairman, Brian Friedman, also turned down a bonus of an equal amount, the company said.Jefferies reported a fourth-quarter loss in December. It has put up its commodities and financial derivatives brokerage for sale as it struggles with high costs and falling fees.It is the latest bank to retreat from the commodities futures market as stricter regulation increases costs and intense competition and a decline in fees squeeze margins.

Leucadia National Corporation is a diversified holding company. Shares of LUK traded higher by 0.56% or $0.13/share to $23.43. In the past year, the shares have traded as low as $20.96 and as high as $28.41. On average, 1997590 shares of LUK exchange hands on a given day and today's volume is recorded at 960380.