William Jones, chairman JonesTrading Institutional Services, is relinquishing his CEO responsibilities to focus on broad strategic issues for the firm.

Firm President Will Geyer succeeds Jones as CEO and will focus on the current business, anticipating industry and client needs. Mike Hornbuckle assumes the role of vice-chairman and will represent the firm to a broad range of constituencies.

“We will remain the best at what we do for our clients–the construction of large block trades on an agency basis. And we will migrate the model across business types, instruments, and regions,” said Jones. “Our management is committed to the firm, and now has the mandate, precision in responsibilities, and resources to design and implement strategies for JonesTrading’s continued growth in valuation, revenue, and profits.”