JonesTrading Institutional Services, an institutional equity block trading and execution firm based in the United States has named Gavin Spencer as CEO of its United Kingdom affiliate, JonesTrading International Ltd.
In addition, Gary Cunningham has been appointed as Head of Business Development.
Spencer reports to Alan Hill (pictured), JonesTrading Institutional Services LLC’s CEO.
The firm will provide UK, Continental, and cross-border US-European equity trading, servicing institutional and hedge fund firms. It is anticipated that with the implementation of MiFID II and research unbundling, there will be increased demand for conflict free, high touch execution services in blocks, which has been JonesTrading’s core offering for 40 years in the USA. The US firm is consistently ranked number one in block executions by the TABB Group and will also provide its ancillary capital market and real-time market insight.
Alan Hill, CEO, of JonesTrading Institutional Services, says: "We will now be taking our relationship based block trading model to European institutions at a critical time – when execution, at advantageous and known commissions, will be required by clients. By building liquidity and our client base in the UK and Europe, and combining that with our robust US operations, we will enhance trading strategies and the opportunity for best execution for all our clients.”
