JonesTrading Institutional Services LLC, a leading agency brokerage, which provides institutions with block trading of U.S. and international securities, announced today that it is expanding its execution services to Japan as the first in a series of strategic moves to provide its relationship-based model to Asia and the Pacific Rim.
The firm has named Kevin Horgan, formerly of BTIG, as Managing Director to spearhead the expansion. These initiatives reflect the firm's continued growth of its international execution efforts which now expands U.S. based trading of international securities and operations in Canada through its subsidiary JonesTrading Canada.
JonesTrading will begin its Asian execution capabilities by trading Japanese equities for U.S. institutions. The firm then contemplates expanded trading with Japanese institutions. The move to Japan serves as a foundation for an eventual expansion of the JonesTrading franchise into other Asian and Pacific Rim markets.
In order to facilitate business development and trading operations both locally and to the U.S., JonesTrading will base its Asian execution operations in Hawaii, where it has opened an office in Honolulu. Mr. Horgan will be the branch manager of that office.
Prior to joining JonesTrading, Mr. Horgan was a sales trader in Japanese equities at BTIG. He has also served as Managing Partner at NAMINORI for five years and served in sales management roles at Merrill Lynch on the Japanese and European Convertibles teams. A graduate of the University of Rhode Island, he has a Japanese studies certificate from Seinan Daigaku in Fukuoka Japan and graduated from the Harvard University Japanese Language Summer Program. In his spare time, Mr. Horgan is a world-class stand-up paddler. He is currently planning a paddle for charity across the Pacific Ocean from Hawaii to Japan.
Said Packy Jones, Chairman and CEO of JonesTrading: "Over the course of the last several years JonesTrading has undertaken expansion in regions and asset classes, bringing institutions the opportunity to use our relationship based agency model for block trading. JonesTrading seeks to provide the choice of our model to as many institutions as we can, and this expansion is another key element in an overall plan to trade securities in markets markets worldwide. The expansion into Japan, with plans for greater initiatives to come, will enable both Japanese and U.S. institutions to source equity liquidity in size at advantageous prices. Kevin Horgan's expertise and experience, combined with our approach to trading is the right combination for this important initiative."
Said Kevin Horgan, Managing Director, JonesTrading: "Expansion of the JonesTrading franchise into Asia provides traditional asset managers and hedge funds with an important alternative to electronic models. Using JonesTrading, firms control their own orders and are able to source liquidity and execute strategies that leverage our relationships with over 1,000 institutions. I look forward to bringing the benefits of JonesTrading to Japan."