Jeffries wants to compete with the big boys.
Over the past few months, the small investment bank has been hiring senior people from Deutsche Bank and from PIMCO, to name just two examples.
In total, the 3,000-person firm has increased its head count by ~850 people in 2 years.
Now it's buying Prudential Bache's global commodities group from Prudential Financial Inc. for $430 million.
The new name of the 
As of now, Jeffries doesn't come close to competing with Goldman Sachs or Morgan Stanley.
Take for example when Jeffries hired Sean George from Deutsche. It was said that the firm "must have thrown the kitchen sink at him" to get him to move, possibly implying that otherwise he would never consider moving to Jeffries because it's a step down.
Clearly, Jeffries is making aggressive moves to expand.
Today it also announced a $500 million stock offering, meaning that the firm is looking to raise equity, possibly to expand even more.
Prudential Bache could be Jeffries' break into trading futures and OTC swaps in energy, metals and agricultural markets.
It will be fun to watch what Jeffries does next, and how well it works.
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