JonesTrading Hires Industry Veteran Tuthill for Capital Markets Group

JonesTrading Institutional Services LLC has named industry veteran Andrew Tuthill as managing director and head of its capital markets group and a member of the executive committee.

JonesTrading Capital Markets provides liquidity to the corporate and private equity communities. In part, it is a response to the increased demand from institutions for an unconflicted agency model in secondary offerings.

Tuthill brings seventeen years of experience in investment banking, trading and equity capital markets to the position. Most recently he was managing director-head of special situations for the Equity Capital Markets Group at Thomas Weisel Partners. Prior to that, he services as managing director with the ECM team at UBS Investment Bank. He also held a senior position at JP Morgan. At JonesTrading Capital Markets, he will report to Packy Jones, chairman and CEO of Jones Trading.

Commenting in the release, Tuthill said: “Institutions seek to add value to their businesses and our ability to deliver a capital markets product fills that need. The JonesTrading approach to Capital Markets offers clients an efficient and cost-effective alternative to the traditional model for secondary offerings. I expect clients will continue to seek alternatives that allow them to raise capital at advantageous prices. JonesTrading’s Capital Markets Group is designed, because of its ability to access liquidity on an agency basis, to bring clients that alternative, and I look forward to helping JonesTrading build this important part of their franchise.”

For public companies seeking to raise additional equity, JonesTrading offers a cost-efficient, “quiet” financing alternative called At-The-Market offering or ATM. The At-The-Market offering or ATM enables sales of a company’s stock via JonesTrading on an agency basis directly to the markets, driven by the timing and financial needs of the company. Using its network of global institutional investors, JonesTrading will access liquidity on behalf of publicly traded companies. On behalf of institutional investors JonesTrading conducts reverse inquiries into public companies to structure secondary or private placement offerings.

For private equity firms looking to exit their publicly-held positions, JonesTrading offers a block trading solution that allows institutional investors to buy or sell large blocks of stock without moving the market. Unlike passive crossing networks that simply match open buy and sell orders, the JonesTrading solution allows investors to proactively source liquidity that may not be currently available in the markets.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio