JonesTrading Institutional Services LLC, a leading agency brokerage, which provides institutions with block trading of U.S. and Canadian securities, announced today that it has named Will Geyer, a leading industry expert in electronic platforms and equity trading processes, as its President and Chief Operating Officer.
Geyerâs appointment is the second strategic move announced by JonesTrading this month. The firm previously announced an equity financing of $50 million from Friedman Fleischer & Lowe.
Recently Packy Jones, the firmâs Chairman and CEO, undertook a strategic review of the business model, the changing U.S. regulatory landscape, and the rush to technology by competitive organizations. That review, in combination with the firmâs continued strong performance, evidenced strong client demand for JonesTradingâs model, which proactively sources liquidity for block trades.
JonesTrading will continue to provide its model and will do so through an optimal combination of relationship and technology based services. This combination will provide clients with choice, and will create more liquidity and performance for these clients.
In support of that strategy, Geyer brings over 15 years of technology development, and brokerage and institutional trading to JonesTrading. His experience and expertise will enable JonesTrading to build the internal infrastructure and management platform necessary to meet client demand in todayâs liquidity- and alpha-driven competitive environment.
Most immediately, Geyer will undertake the development and implementation of an enterprise-wide internal communications and data platform detailed as part of the prior financing announcement. The specifics of that platform will be announced in due course. In addition to his role in technology development, he will manage internal operations and oversee sales and trading. He will serve on the firmâs Executive Staff Committee.
Will Geyer joins JonesTrading from Citigroup, where he was most recently responsible for the strategic development and deployment of their global front end electronic trading platform. Prior to that post Geyer managed Citigroupâs Global Alternative Execution business, which included the development, trading and sales of the firmâs algorithms, DMA, program trading, transition services and connectivity functions. Before joining Citigroup he managed U.S. Equity trading at Barclays Global Investors.
Said Packy Jones, Chairman and CEO of JonesTrading: âWe are convinced that todayâs market will continue to demand agency execution services that implement institutional investment strategies through large blocks and that these can only be constructed by expert traders who understand the complexity of todayâs fractured markets. At the same time, we recognize the continuing need to evolve our model to meet the needs of institutions in an ever-changing marketplace.
âWill Geyer brings to JonesTrading a breadth and depth of experience and understanding of todayâs trading. At the same time he has an appreciation for the JonesTrading model and the necessity to adapt it to todayâs increasing demand for a technology platform that will deliver of our services and our liquidity.â
Said Will Geyer, President and COO: âJonesTrading is unconflicted in its delivery of agency trading to U.S. institutional clients. The firm enables them to unlock pent-up liquidity and execute investment strategies and trades in size in a proactive way. That model is unique and the firm's continued growth is evidence of its value to both the marketplace and its clients. I appreciate the opportunity to develop our model in new ways on behalf of clients while also contributing to the building a robust internal management structure in support of the firmâs strategic and near-term goals.â