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(Bloomberg) -- Jefferies Group LLC, the investment bank owned by Leucadia National Corp., hired Leor Shapiro from UBS Group AG for its prime-brokerage business.

Shapiro, 35, will be a managing director and global head of business consulting, a new role that involves advising hedge- fund managers, according to a person with direct knowledge of the matter. He’ll report to John Laub, who was hired last year from hedge-fund firm Red Alder LLC to run the group, said the person, who asked not to be identified because the move hasn’t been announced publicly.

Jefferies, led by Chief Executive Officer Richard Handler, 53, has been expanding its prime-brokerage business, which executes trades for hedge funds and other institutional clients, according to a January regulatory filing. The New York-based firm is seeking to attract smaller, newly created hedge funds, the person said.

Shapiro was U.S. head of business-consulting services at Zurich-based UBS, according to the memo.

To contact the reporter on this story: Zeke Faux in New York at zfaux@bloomberg.net To contact the editors responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net Steven Crabill

Bloomberg