At Jefferies, Timbrell will be in charge of expanding Jefferies business in the Midwest and western US, Reuters quoted a person familiar with the hire as stating.

Timbrell was at Credit Suisse for nine years and had run its San Francisco private banking office.

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Reuters added that Timbrell and Jefferies Wealth Management head, Mark Peters had worked together early in their careers at Goldman Sachs Group.

Meanwhile, Credit Suisse has named Michael Nies to replace Timbrell in San Francisco. A Credit Suisse spokeswoman declined to comment on the matter.

It was in May 2012 that Jefferies had hired the New York City team of Bob Constant and Jeryl Paris from Credit Suisse, where they had worked for 12 years, added Reuters.

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