Jefferies Said to Make Cuts at Its Equity Unit

The video discusses Jeffries' financial performance, highlighting a 99% decline in the first quarter and a 2% decline in the second quarter. The company is cutting costs, particularly in compensation for high-paid MDs, and has seen personnel changes, including the departure of Reese Brooks. Jeffries is shifting focus from fixed income to equities due to declining revenues in fixed income. The CEO, Richard Handler, has indicated positive momentum, but the company faces challenges due to market trends and Brexit. The importance of equities to Jeffries is growing, although fixed income remains significant.

What challenges does Richard Handler face as CEO of Jeffries in executing their business plan?

In what ways has the recent stock rally impacted Jeffries, according to the text?