Investment bank, Jefferies Group, is planning to close its asset management corporate advisory business, The Wall Street Journal reports. Kevin Pakenham and Aaron Dorr, who were working with the asset management unit, will also leave Jefferies. Jefferies had acquired the fund business from investment boutique, Putnam Lovell, in 2007. Jefferies will focus on starting an investment banking business headed by global head of investment banking and capital markets, Benjamin Lorello.

Click here for the story from The Wall Street Journal.