JonesTrading Acquires Conifer Securities
JonesTrading, a broker-dealer based in Westlake Village, CA, has signed a letter of intent with San Francisco-based hedge fund service provider the Conifer Group to acquire its subsidiary, Conifer Securities. Conifer Securities will become a Jones Trading subsidiary, and the Conifer Group will obtain an equity stake in JonesTrading.
The deal, in which Conifer CEO and president Jack McDonald will join JonesTrading's board of directors, is expected to close in Q4 of 2012.
JonesTrading will be able to offer prime brokerage services, and the capabilities of its growing advisor services business will be broadened. The Conifer Group intends to leverage JonesTrading for its expanding fund administration and middle office services for hedge funds and investment managers.
"As we looked at the landscape of growth opportunities for JonesTrading to serve our clients, we recognized the increased demand for a broader and deeper range of quality high touch services," says Packy Jones, chairman and CEO of JonesTrading. "The businesses of JonesTrading and Conifer Securities are complementary and the arrangement between our firms will not only make our respective clients' trading more effective but will add value to the entire investment cycle."
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
APAC’s hidden opportunity is in the hands of wealth managers
Asia-Pacific’s financial firms have lofty growth ambitions that will come with high cost and complexity. To succeed, they’ll need a quality portfolio toolkit and a connected technology architecture, writes BlackRock’s James Verner.
FactSet’s vectorization service aims to improve agent accuracy
FactSet chief AI officer Kate Stepp discusses the importance of having AI-ready data in the agentic era.
DeFi and TradFi firms are borrowing each other’s benefits
The Waters Wrap: As blockchain tech gains a small foothold in market data, Nyela says the thing separating blockchain’s previous craze and its second wind is choice.
Hitting the Great Wall: Details scarce on China’s Xinchuang initiative
In a quest to learn more about China’s Xinchuang initiative, Wei-Shen finds trying to get information feels like running into a wall over and over again.
Anthropic builds finance agents, Osttra buys HUB, TMX mulls extended trading, and more
A recap of the major tech and data news from the past week in the capital markets.
Bootcamps and peer pressure: Goldman preps staff for AI future
Isda AGM: Tone from the top is not enough, says chief information officer Marco Argenti.
Symphony introduces agentic workflows to core platform
Through the new AI agent studio, firms will now be able to build their own AI agents within the Symphony platform.
Apac buy-side firms embrace AI and automation to bolster the business
How Apac buy-side firms are using AI, APIs and automation to transform investment workflows
