Jenny Just: A Trailblazer in Fintech and Empowerment
Jenny Just, co-founder and managing partner of Chicago-based PEAK6 Investments, recently captivated audiences at BizTimes’ annual Women in Business Symposium. With a career that has transformed the fintech landscape, Just shared invaluable lessons from her journey and her philosophies on leadership, inspiring many with her story of resilience and innovation.
Early Life and Influences
Growing up in Brookfield, Wisconsin, Just was shaped by a supportive family environment. With two hardworking parents and four brothers, she developed a strong work ethic and a competitive spirit. “My childhood was a wonderful Midwest experience,” she reflected, highlighting the camaraderie she shared with her close-knit group of friends, affectionately known as the “Gidgets.” This foundation instilled in her a passion for improvement and a sense of community that she carries into her professional life.
Career Beginnings
Just’s career began with a determination to work in Chicago, which she viewed as the “big city.” Her first job at O’Connor & Associates, a premier options trading firm, was a pivotal moment. “I didn’t know what I was getting into,” she admitted, but the experience on the trading floor was exhilarating. As one of the few women in a male-dominated environment, Just thrived, leveraging her competitive upbringing to navigate the challenges of the trading world. Her willingness to embrace new opportunities, even those outside her comfort zone, laid the groundwork for her future successes.
Mentorship and Growth
Throughout her career, Just has credited her mentors for their significant influence. Her father instilled in her the importance of financial literacy, teaching her that “every day is a work day” and emphasizing the value of saving money. Another key figure was Clay Struve, a renowned risk manager who guided her through challenging times, including the aftermath of the catastrophic Chicago Flood in 1992. These mentors not only shaped her professional skills but also reinforced the importance of resilience and adaptability.
The Leap into Entrepreneurship
The decision to launch PEAK6 in 1997 stemmed from a pivotal moment when Just and her co-founder, Matt Hulsizer, faced a merger that would relocate them to Connecticut. Instead of following the conventional path, they decided to stay in Chicago and create their own firm with $1.6 million in startup capital. “We can do this ourselves,” they declared, and thus, PEAK6 was born. What began as a proprietary options trading company has evolved into a multibillion-dollar fintech empire, with Apex Fintech Solutions at its core, serving over 20 million customers.
Navigating Technological Change
As technology continues to reshape the financial landscape, Just has positioned PEAK6 at the forefront of innovation. The firm is constantly exploring new ways to enhance user experiences, such as their upcoming stock rewards product that allows retail brands to reward customers with shares of stock. “We are always on the lookout for companies that are shaping the future of fintech,” she explained, emphasizing the importance of adapting to the digital age.
Challenges and Opportunities Ahead
Looking ahead, Just sees both challenges and opportunities for PEAK6. The greatest opportunity lies in empowering individuals worldwide to take control of their financial journeys through technology. However, the challenge remains in continuously innovating to meet the evolving needs of consumers. “There’s going to need to be a major evolution in the industry,” she noted, highlighting the necessity of leveraging cloud-based infrastructure and real-time data to enhance the investing experience.
Embracing Failure and Learning
One of the most profound lessons Just has learned in her career is the importance of embracing failure. At PEAK6, they have launched or acquired over 15 companies, with many not succeeding. “You shouldn’t be afraid of having ups and downs,” she advised, emphasizing that the key is to learn from those experiences. This mindset has allowed her to foster a culture of innovation and resilience within her organization.
Paving the Way for Women
Just is passionate about empowering women in finance and technology. To address the gender disparity in the industry, she established programs like the Women’s Trading Experience and Women’s Technology Experience, aimed at increasing female representation in decision-making roles. “It took us six years and two failed attempts to get there, but we’re enormously proud to be number one in our industry,” she stated, underscoring her commitment to creating pathways for women in fintech.
The Birth of Poker Power
In 2020, Just co-founded Poker Power with her daughter, Juliette, to teach women the game of poker and enhance their decision-making skills. The idea emerged after a conversation about the importance of strategic thinking and risk-taking. “I had no intention of starting another company,” she admitted, but witnessing the transformative impact of poker on young women motivated her to pursue this venture. To date, Poker Power has reached over 290 organizations in 40 countries, providing valuable skills to women worldwide.
Family and Personal Life
Outside of her professional endeavors, Just cherishes time spent with her family. As a mother of four, she values the moments when her children come together, especially now that they are starting their own careers. “Having everyone together is a rarity but also incredibly important,” she shared, emphasizing the significance of family bonds in her life.
Through her journey, Jenny Just exemplifies the power of resilience, innovation, and empowerment. Her story serves as an inspiration for aspiring leaders, particularly women, encouraging them to embrace challenges and pursue their passions with determination.