Exclusive: Jefferies restructures junk debt business, bankers leave

By Olivia Oran and Greg Roumeliotis NEW YORK (Reuters) - Jefferies Group LLC [JGLL.UL] will merge its junk-rated loans and bonds business with the junk debt unit of its joint venture with MassMutual Financial Group, according to people familiar with the matter, in the biggest reorganization by a U.S. investment bank since the leveraged finance markets seized up last year. As a result, Kevin Lockhart, global head of leveraged finance, and Adam Sokoloff, global head of sponsors, have left Jefferie