JonesTrading is owned and run by its traders, which creates a culture of interdependence and trust. This spirit of cooperation not only makes the trading network more cohesive but also fosters a creative environment where traders can proactively find liquidity on behalf of each individual client. The emphasis on experienced traders as a cornerstone of our business also helps to explain why we have one of the lowest turnover rates in the securities industry. As Mr. Packy Jones is proud to say when new people arrive, “Welcome to your last job.”
Packy Jones, Executive Chairman
“At JonesTrading, family comes first. It’s our credo. I’d have to say we have a high tolerance for distinct personalities. We really have one of the most diverse and unique trading staffs in the country with probably the highest production-based compensation payout in business.”
JonesTrading’s current Executive Chairman, Mr. William “Packy” Jones, represents a lineage in the securities industry that spans more than seven decades, dating back to the turbulent years following The Great Crash. In the early 1930’s, Mr. George Jones, Sr.—Packy’s grandfather—was a principal in the equity brokerage firm of Mitchum & Tully, which became Mitchum Jones & Templeton in the 1950’s. Responsible for Southern California at a time when the region boasted little more than oil rigs, cattle feed pens and a fledgling movie industry, George helped the company grow to become the largest brokerage firm outside of New York. He also served on the boards of several leading California corporations, including General Telephone and the Walt Disney Company. Mitchum Jones & Templeton subsequently diversified into the retail and institutional business, and was acquired by Paine Webber in the early 1970’s.
The next generation continued the JonesTrading legacy with the founding of Jones & Associates by Mr. George E. Jones, Jr., in 1975. Headquartered in Santa Monica, California, the firm originally operated as an agency broker for institutions, holding orders for matching without actively marketing them. With the arrival in 1981 of Mr. Anthony Tesoro—who later became CEO—Jones & Associates developed the seeds of the current JonesTrading model to actively source liquidity for its institutional client base.
George’s son, Packy, joined the firm in 1982. He came to Jones & Associates with trading experience and relationships garnered while working under Boyd Jefferies in the late 1970’s, followed by a two-year stint under another legend in the business, Mr. Tom Lewis at Newhard Cook.
Jones & Associates moved its headquarters to Westlake Village, California, and continued to expand throughout the 1980’s, hiring additional brokers and broadening its institutional client coverage. It expanded its geographic base as well, opening branch offices in key locations across the country.
In 1989, a top trader from Oppenheimer & Company, Mr. Mike Hornbuckle, came onboard and helped to create the trading model that has come to signify JonesTrading. By combining the best of third market execution and liquidity with ‘bulge bracket’ market intelligence and technology, the firm evolved its current active liquidity-sourcing model.
In January 2004, Mr. Packy Jones assumed the role of Executive Chairman and CEO. Re-organized under the name JonesTrading Institutional Services LLC, the new firm—with new leadership and a honed trading network—quickly began to attract additional top talent from Wall Street, including 18 former heads of trading desks from major firms.
In 2001 JonesTrading International Limited was launched in order to expand the JonesTrading model into the European Union. In 2009 JonesTrading Canada Inc. was launched with an office in Toronto. Focus on Asia Pacific began in 2011 with the opening of an office in Hawaii to provide live hours coverage of that part of the globe. Today the JonesTrading model is being used to find liquidity in multiple asset classes around the world.
The JonesTrading Group of Companies (“JonesTrading”) is comprised of JonesTrading Institutional Services LLC (“JTIS”), JonesTrading Canada Inc. (“JTC”), and JonesTrading International Limited (“JTIL”).
Services offered and provided in the United States are through JonesTrading Institutional Services LLC which is a member of FINRA and SIPC.
Services offered and provided in Canada are through JonesTrading Canada Inc which is a member of IIROC and the Canadian Investor Protection Fund.
Services offered and provided within Europe are through JonesTrading International Limited which is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales, registered office at 1 Berkeley Street, London, W1J 8DJ, United Kingdom, Company No. 04274625.