Who is Michael Andrew Jenkins?

Introduction to Michael Andrew Jenkins

Who is Michael Andrew Jenkins? If you currently live in the Bronx, especially if you live in Mott Haven; it is in your best interest to learn more about this mysterious benefactor who finances not only development projects on Wall Street but Bronx politicians and non-profit groups alike. 

Michael Andrew Jenkins started his career at Susquehanna Capital Group in 1995. According to Bloomberg News “Susquehanna Capital Group operates as a brokerage firm. The Company specializes in the business of buying and selling securities such as stocks, bonds, mutual funds, and other investment products.” The Susquehanna Capital Group is located in the state of Pennsylvania. This is where our story begins (and will take us again as we move forward with our inquiries). It was here where Michael Andrew Jenkins met his future business partners and founders of Jane Street (2000); Tim Reynolds, Rob Granieri, and Marc Gerstein. Jane Street is”… a global liquidity provider and trading firm that uses sophisticated quantitative analysis and a deep understanding of market mechanics to help keep prices consistent and reliable.”  

[It] has been a very successful trading firm with over 2,600 employees in six offices in New York, London, Hong Kong, Amsterdam, Chicago, and Singapore, and trades a broad range of asset classes on more than 200 venues in 45 countries. Some of their notable employees include some well-known names; Sam Bankman-Fried and Caroline Ellison, from the defunct FTX, a cryptocurrency exchange and crypto hedge fund that collapsed due to fraud.

According to an article from the Financial Times, the company has become one of the world’s largest market-makers, trading more than $17 trillion worth of securities in 2020. The firm ended 2020 having traded $4 trillion in global equities, $1.4 trillion in bonds, and $3.9 trillion in ETFs.  Bloomberg News reported during the COVID-19 pandemic, the firm saw its revenue jump 54% to a record of $10.6 billion during the year ended in March 2021. 

As of 2021, its trading capital was about $15 billion. As well as high-frequency trading, it in some cases maintained positions for hours, even days, or sometimes weeks, which is essential for ETFs that track less-traded markets. In 2023, the company generated $10.6 billion in net trading revenue with adjusted earnings of $7.4 billion. It released these numbers as part of a debt deal that aimed to expand the amount of cash on Jane Street’s balance sheet from $4.3 billion to $5.6 billion.

About two days ago Bloomberg published a report; Jane Street Group LLC, one of the largest market-making firms in the US, posted $14.2 billion of net trading revenue for the first three quarters of 2024, already surpassing the 12-month record it set last year. 

The Jane Street office is located at 250 Vesey Street. They are located in the financial pulse of New York City. Jane Street moved into this headquarters in 2014 and they are planning to expand their footprint in the Financial District. Their landlord Brookfield Properties is not only excited to have them there but this company is extremely proud to have such a prestigious operation on their property. According to an article from the New York Post; Global trading firm Jane Street is looking to grow at Brookfield Place, we’ve learned. The electronically-driven market mover, which has about 500,000 square feet at 250 Vesey St., is in talks with landlord Brookfield for more space at 300 Vesey St. next door. 

In 2018 Brookfield Properties purchased land for $165 million from Somerset Partners. Do you remember our old friend, Keith Rubensteins, project?  In total, Brookfield Properties invested 1 billion dollars into the Bronx, Mott Haven specifically: the same neighborhood that for the last decade has been ground zero for displacement in the so-called borough.

Almost 10 years since Rubenstein’s “piano district” rebranding efforts failed, we now see Brookfield Properties pushing its way into the neighborhood to no doubt pick at the cultural carcass of Hip-Hop as the vultures continue to commodify and capitalize on what remains for the borough that started it all. 

https://www.janestreet.com/who-we-are/