Jefferies, the US mid-market investment bank, has taken the next step in its international push by hiring a 13-strong team from KPMG for a new German office just weeks after striking deals to buy media boutique LongAcre Partners and financial services specialist Putnam Lovell.

The Frankfurt office will be Jefferies' fourth in Europe after London, Paris and Zurich. It will be led by co-heads of investment banking Richard Markus and Warren Scott.