JonesTrading Institutional Services LLC, which provides institutions with block trading in securities and derivative products, services to the capital markets, independent research, and commission management, announced today that it has named industry veteran Seth Michaels as Managing Director and Head of its Advisor Services business.
JonesTrading's Advisor Services business provides unconflicted best execution and other services to the growing investment advisor, family office and professional trader communities and is in part a response to the increased demand by these growing client segments for a better service experience.
Mr. Michaels brings over twenty years of experience in prime brokerage and equity finance to the position. Most recently he had managed all aspects of Barclays’ high net worth client financing business including margin, repo and securities lending. Mr. Michaels also previously managed Neuberger Berman Clearing Services (A Lehman Brothers Company) which provided execution, reporting, custody and clearing services to correspondent broker dealers, registered investment advisors and hedge funds. Mr. Michaels worked with leading investment advisor clients across all aspects of their business to provide exceptional product and service capabilities.
Said Packy Jones, Chairman and CEO of JonesTrading: “JonesTrading is well suited to provide the growing investment advisor and related customer segments superior execution and the services they need. We have a broad and growing product set and a deep bench of experts who apply the JonesTrading model to our clients. Seth Michaels will focus our core strengths in this growing market, building on his client relationships and market insights.”
Said Seth Michaels, Head of JonesTrading Advisor Services: “Leading investment managers seek to add value to their businesses and our ability to deliver a best-of-breed advisor services product fills that need. The JonesTrading approach offers clients an efficient and cost-effective alternative to the traditional model of captive custodial trading. JonesTrading's national footprint and international capabilities will provide our clients with product breadth, market insights and execution capabilities formerly available to only the largest institutions.”
