Jefferies, the mid-market investment bank, has promoted two executives to head its equity unit and another two to head equity sales after last month reporting record profits for the seventh year in a row.

Jefferies promoted Jason Griffith and Ross Stevens to co-heads of the bank's equity department. Griffith and Stevens will be responsible for all of Jefferies' US cash equity businesses and they will continue to oversee the bank's equity financial products businesses including equity derivatives, prime brokerage, securities lending, electronic trading and correspondent clearing. The two previously served as co-heads of equity products.