Jefferies has made six new hires to its electronic trading division, including a five-strong team from UBS, as the US investment bank grows its business across the board just as its larger rivals are scaling back.

The New York-based bank has appointed Jatin Suryawanshi as a managing director and head of global quantitative strategies; Partha Sarkar and Sanjay Girdhar as senior vice-residents within its quantitative strategies trading team; and Michael Healey, James Gibbins and Stephanie Libien to its algorithmic specialist sales team.