Rafael Madrid has joined Jefferies as managing director of emerging markets credit trading. He is based in London.
Jefferies reported US$178 million in fixed income trading over Q2 2025, a 37% year-on-year (YoY) decline.
Madrid has more than 20 years of industry experience and joins Jefferies from Morgan Stanley, where he has been co-head of European (CEEMEA) trading for the past year. Before this, he was a credit trader for Sub-Saharan sovereign and corporate credit.
Earlier in his career, Madrid specialised in LatAm credit trading, holding executive roles at UBS and Deutsche Bank.
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