JonesTrading names Gavin Spencer international CEO

Source: JonesTrading Institutional Services

JonesTrading Institutional Services LLC, a leading institutional equity block trading and execution firm based in the United States announced today that its United Kingdom affiliate, JonesTrading International Ltd., is fully operational in its London office location and that the firm has appointed Gavin Spencer as CEO and Gary Cunningham as Head of Business Development for this international presence.

Mr. Spencer reports to Alan Hill, JonesTrading Institutional Services LLC’s CEO.

The firm will provide UK, Continental, and cross-border U.S.-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 U.S. 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.

The appointment of Gavin Spencer as CEO and Gary Cunningham as Head of Business Development reflects the firm’s commitment to building its international franchise. Gavin Spencer has decades of experience in the City, having served in senior positions of increasing responsibility at Wedd Durlacher Mordaunt, Salomon Brothers, Societe Generale, Sanford C. Bernstein, and Exane BNP. In the latter three posts he was head of trading. Gary Cunningham has over 30 years of experience in the UK and U.S. equities markets, including time at Wedd Durlacher Mordaunt, BZW, Robert Fleming and ABN Amro. Most recently Gary was CEO of Execution LLC’s U.S. based brokerage operations.

Said Alan Hill, CEO, of JonesTrading Institutional Services LLC: "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 U.S. operations, we will enhance trading strategies and the opportunity for best execution for all our clients.”  

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