Concept Capital Markets has appointed R Pennington Miller-Jones (Penn) as Managing Director – Head of Prime Brokerage Sales.
Penn is a seasoned prime brokerage executive with a great deal of experience in sales and operations and an impeccable reputation with alternative investment managers and other service providers to the hedge fund industry. In his new position, Penn will lead Concept Capital’s sales effort and work with the firm’s management team to further refine and improve our prime brokerage offering and extend our reach to a broader audience.
Penn comes to Concept Capital following nine years at Jefferies LLC, where he served as Managing Director – Head of Equity Prime Brokerage Sales, and was an integral part of the team that built the prime brokerage business at the firm. He was involved in all aspects of the business, most notably the sourcing of portfolio management software, trading systems and capital introduction. Among his other responsibilities, he negotiated and structured prime brokerage and related agreements to meet client specific needs. Prior to Jefferies, Penn served as Managing Director – Head of East Coast Prime Brokerage Sales at Banc of America Securities, and before that as Senior Vice President – Prime Brokerage Operations at Montgomery Securities/NationsBanc Securities prior to its merger with BofA. He began his brokerage career in 1992 with the Pershing division of Donaldson, Lufkin & Jenrette.
“We are pleased to welcome Penn to Concept Capital and believe his leadership of our sales effort will have an immediate positive impact on the firm’s business and significantly enhance its prospects for continued growth. The comprehensive prime brokerage solutions we offer our clients, anchored by our investments in technology and talented individuals, have driven our rapid growth in recent years, and we are excited for the opportunity to work with such a seasoned professional to further develop our firm’s presence in the alternative investment space”, says Jack Seibald, co-founder and Managing Member.
“The Concept Capital team has built an incredible business dedicated to supporting and incubating a wide variety of investment managers. After spending the majority of my career working with emerging managers, it is refreshing to partner with a firm that has built a culture around this segment of the market”, says Penn Miller-Jones.
