Jefferies Financial Group Inc. has strengthened its strategic alliance with Sumitomo Mitsui Financial Group by electing Mr. Toru Nakashima to its Board of Directors. This move comes as Sumitomo Mitsui Banking Corporation increases its stake in Jefferies to 10.9%, aiming for up to 15% ownership. The partnership, which began in 2021, has expanded from US leveraged finance and Japan M&A to encompass broader M&A advisory services, equities, debt capital markets, and a joint coverage model in the US, EMEA, and Canada, reflecting a deepening collaboration between the two financial entities.