JonesTrading Unveils Distressed Debt Trading

Apr 7 2008 | 2:15pm ET

Agency brokerage firm JonesTrading Institutional Services has expanded its offerings to include distressed debt trading.

According to the firm—which sources liquidity from the largest institutions and hedge funds in North America through a network of over 80 sales traders—its 30-year-old equities trading model will now be applied to distressed debt for the first time. The move is aimed at offering clients an alternative to traditional capital intensive or electronic trading mechanisms.

The firm has recruited industry veteran Kerry Stein as managing director to head the new distressed debt group. Stein brings over 20 years of experience in building bond businesses and operations to his new role. Most recently, he was managing director and head of high yield trading at Morgan Joseph & Co. At JonesTrading, he will report to Will Geyer, president and chief operating officer, and will serve on the firm’s executive committee.

“Our review of the current securities industry markets indicates that in these difficult times clients find it more challenging than before to secure alpha and best execution,” says Packy Jones, chairman of JonesTrading.

“Critical to those goals is the ability to construct multi-instrument trading strategies while having an in-depth understanding of markets and market conditions. By deploying the already successful JonesTrading approach in equities to distressed debt, we are able to give clients a more complete package as they execute their strategies.”


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...