Captain Weeden sailed the S. S. Marion Chilcott, a three-masted clipper ship, around Cape Horn, through typhoons in the South China Sea, and made regular runs between San Francisco and Hawaii. Captain Weeden’s sons, Frank and Norman, spent their first six years aboard the Marion Chilcott, seldom touching terra firma. These seafaring years taught Frank the importance of organization, efficiency, and focus.
Innovation has always been part of our seafaring spirit. Over the years, we have started or financed many of the most important financial software companies, including Quotron, Instinet, Autex, QV Trading, Primex, dTech, Intralinks, and 17a-4.
Over 100 years ago, Frank and Norman Weeden founded Weeden & Co. to raise money for California’s rapidly growing communities. At first, they bought small lots of bonds to accumulate a position large enough to sell to an institutional investor. After 20 profitable years and upon request by its clients, Weeden expanded this upstairs model to stocks. Many institutions found that trading bonds and stocks directly with Weeden simplified trading and provided better execution. Weeden grew its trading volume to exceed 4% of the volume on the New York Stock Exchange.
Though the Weeden story has undergone several iterations since 1922, it has been one of the most interesting and influential firms in the industry. Today, this tradition continues as a venture and management firm.