Frank E. Baxter was born in and attended grammar and high school in Northern California. He graduated from the University of California at Berkeley with a BA degree in economies with honors in 1961. Before college he enlisted in the Air Force for four years.
After college he worked at the Bank of California, San Francisco. In 1963 he joined J.S. Strauss and Company, San Francisco, which then was a major third market firm.
From 1974 until 2002 he was employed by Jefferies and Company, a global investment bank specializing in small and mid-cap companies. In 1984, he moved to London to start and act as Managing Director of Jefferies International, which now has offices in Europe, Asia, and Australia. In 1987 he became CEO of Jefferies. That same year he started the Investment Technology Group, which is now a major electronic institutional brokerage, listed on the New York Stock Exchange during the 90s. He is now Chairman Emeritus of the firm.
He is a former director of the NASD and served as Chairman of the committee, which resulted in the spin-off of NASDAQ. He subsequently served on the Board of NASDAQ as a member of the Executive Committee and Chairman of the CEO search committee. He is also a former director of the Securities Industry Association.
Mr. Baxter’s civic activities include: Chairman of the Board of Alliance for College-Ready Public Schools, an organization dedicated to starting a number of charter schools in Los Angeles; Chairman of the Board of After-School All Stars, an after-school program for middle-school children; Board Member, California Institute of the Arts; Member, Governor Schwarzenegger’s Commission for Jobs and Economic Growth; Vice Chairman of the Board of the Los Angeles Opera, whose budget has grown 2 1/2 times during his tenure as President; Chairman of the Executive Committee, Los Angeles County Museum of Art, which is undergoing a major building campaign; Trustee, University of California Berkeley Foundation; and Trustee, I Have A Dream Foundation, LA Chapter.
He is the recipient of the Bet Tzedek, House of Justice and the Getty House (Mayor’s Residence) City of Angels awards.
Mr. Baxter has been married to his wife Kathy for 44 years. They have three children and six grandchildren.