Block traders and the buyside just got more access – not necessarily to liquidity but to executives at the firms the might be executing shares in.
In a move designed to increase its block trading execution-only business, JonesTrading has launched PrimaryAccess, a service designed to provide access to corporate management for institutional investors. The service expands JonesTrading’s neutral and relationship-based model into an area of increasing demand by institutions and enhances its already established offerings.
Unlike traditional corporate access services provided through banks and other brokerage firms, JonesTrading, as an execution only broker, is able to provide agnostic and conflict-free information via its PrimaryAccess service to its customer base. This allows full flexibility in sourcing companies on behalf of its 1,000 plus institutional clients.
PrimaryAccess focuses on the underserved small-cap and mid-cap space. A full suite of events will now be available, including one-on-one meetings, conference calls, non-deal road shows, field trips, panel discussions, and industry focused conferences. The calendar for 2014 is being set. PrimaryAccess will provide participants with post-event notes.
“Getting information is easy. Getting the right information, in response to the right question, and delivered in the right way is a much harder task,” Conrad said. “We have tailored PrimaryAccess to the needs of institutional investors – who are now expected to deliver performance in a complex market environment. As with all JonesTrading offerings, Primary Access will meet their needs with those needs as the sole focus.”
PrimaryAccess will also provide corporations with pre-marketing that targets appropriate investors.
And to spearhead this new endeavor, the firm has hired industry veteran Vince Conrad to oversee the corporate access effort. Conrad, a veteran with over 20 years experience, has worked in various sales and corporate access roles with bulge bracket, boutique investment banks, and global execution providers. Prior to JonesTrading, he started the corporate access effort at BTIG.
Before BTIG, Conrad was senior vice president with Institutional Markets at Credit Suisse. While at Credit Suisse, he developed institutional client relationships across North America, Europe and South Africa. Prior to Credit Suisse, he opened the corporate services desk at Furman Selz.