Jefferies will continue to hire dealmakers as the "street goes the other way", its senior executives said in a letter to employees, as big banks are expected to roll out a fresh wave of job cuts.

The US investment bank, which has added scores of dealmakers as it enters new sectors and looks to grab market share from rivals, will not "shrink our platform to succeed", chief executive, Rich Handler, and president, Brian Friedman, said in a letter to staff on 1 September.