So Much To Give Thanks For In 2020

For most of 2020, each of us has been living in a COVID-19 pandemic world.  It is easy and obvious to state all of the things that have brought varying degrees of pain and hardship to the world, and it is easy to become overwhelmed with the challenges, setbacks and disappointments of a global pandemic.  On this first business day of November 2020,  the beginning of a month emblematic of giving thanks for our blessings, we thought we would share just a few of the rays of good fortune that shine down on us at Jefferies:

1. Except for one very big and heartbreaking exception and despite some at Jefferies having contracted COVID-19 and fortunately having recovered, our people generally have remained safe during a period that has shaken the world.  We quickly understood the gravity of what we are individually and collectively facing and have rallied together to do our best to keep each other as physically and mentally safe as humanly possible.  We have prioritized each other and have shown grace, compassion, unity, patience and support for one another in a manner that should make every one of us proud.
2. We have been able to support, protect, enable and serve our ever-increasing client base in their time of extreme need, and they in turn have rewarded us with their trust, loyalty and partnership.  The endless hours turned into days, which blended into weeks, months, quarters and soon to be a year, but the bond between us and our clients strengthened every step of the way. An unexpected benefit of the pandemic is that it drives big points home, and it is clear that we not only need our clients, but they too rely deeply on us.  This is a blessing we will never take lightly or for granted and recognize we must continue to earn every day. 
3. No matter what happens in the U.S. on election day (and at the right time in our offices around the world), we for the most part live in democracies and, while none are simple, perfect or immune from turmoil, we believe it is a miracle to have self-government.  We remain confident that, no matter how bumpy the short term ride may feel, the ultimate journey and destination are a privilege that none of us should ever take for granted.
4. We have an enormous wealth of juniors and support teams across the globe that make everything we do at Jefferies achievable.  They do it with endless hours of work (that they make look far easier than it truly is) and they achieve their results in a selfless and humble manner that is far too easy to take for granted.  We cannot and must not overlook the hardship, uncertainty and impediments that this pandemic has created for them as they rise above what were always normal challenges (pre-COVID-19) to get the job done every single day for the rest of us.
5. One of the most glaring and unexpected benefits of the pandemic and the turmoil that has surrounded it is the raising of awareness and focus on inequities among us and the ever increasing belief that every one of us must have a greater sense of urgency and action to make the world a fairer and more just place where opportunity is available for every individual.  This is entirely consistent with a meritocracy and a capitalistic approach, and there are things that must and will change to truly level the playing field.  Each of us at Jefferies must embrace this reality and do everything in our power to do our individual and collective part.
6. We are all beyond fortunate (through nothing but random luck) that our business has been one of those that has been able to not only survive this painful and tumultuous period, but actually thrive and deliver all-time record results to all of our stakeholders.  We will soon enter our year-end compensation process and while in this year for many it is a blessing merely to have a job, we will be able to pay people fairly to reflect our results, as almost all deserve it and we have the means to do it.  This brings incredible joy to the two of us, and the senior leaders throughout the firm.  We also realize that this blessing of good fortune carries with it a privilege and responsibility to be giving to those in our families, circle of friends and society at large who are in deep need because of this period of extreme distress. 

While none of us in the U.S. or elsewhere will be celebrating Thanksgiving with our typical and treasured large gatherings of loved ones in our homes on November 26^th,  that shouldn’t stop every one of us from celebrating these (and so many other) amazing blessings we all share at Jefferies.  For the two of us, we plan to spend the entire month of November reminding ourselves and every one of you how grateful we are to have each of you in our lives.  Somehow, in the middle of all of this gratitude, we will continue to press ahead for the remaining 20 business days of Jefferies’ fiscal year 2020.   Our final blessing this year will be to finish strongly what we started, regardless of the environment, with every one of you.

With endless appreciation,

Rich and Brian