Jonathan W. “Jay” Butler

Principal, Director of Research, and Portfolio Manager

“Perhaps the most important element of our research process is to focus on the downside risk of a proposed investment, not just the upside potential.”

  • MBA, Stern School of Business, New York University
  • BA, Cornell University
  • Certified Public Accountant
  • Chartered Financial Analyst

Armed with an undergraduate degree in history, Jay began his career as an auditor with Price Waterhouse. In his three years in New York, he attended business school at night and during summers, earned his MBA in both accounting and finance, and became a Certified Public Accountant. Fluent in German and French, Jay was subsequently transferred to Zurich, Switzerland, where, among other projects, he worked on a due diligence assignment to assess the value of a small investment management practice. This experience, and his exposure to the Swiss private banking culture, prompted Jay to begin his search for a career in investing. He moved back to New York and, in 1999, became a manager of high-net-worth portfolios at U.S. Trust. As his team’s technology analyst, he was transferred to San Francisco the following year and went on to earn his CFA charter in 2001.

Since joining BTR Capital in 2005, Jay has served as a portfolio manager and BTR’s technology analyst. He became a Principal of the firm in 2008 and Director of Research in 2013.

Jay lives with his wife and two sons in the East Bay. A track athlete throughout high school and college, he tries to exercise regularly, but realistically spends most of his free time helping his wife take care of their home and running after their boys.