Business & Finance
Business and Finance
Business and Finance
Fri, January 30, 2009Thu, January 29, 2009Wed, January 28, 2009Tue, January 27, 2009Mon, January 26, 2009Sat, January 24, 2009Fri, January 23, 2009Thu, January 22, 2009Wed, January 21, 2009Broadpoint Launches Repo Desk, Expands Structured Products Sales Team
Published in Business and Finance on Tuesday, January 27th 2009 at 4:26 GMT, Last Modified on 2009-01-27 04:27:46 by Market Wire
NEW YORK--([ BUSINESS WIRE ])--Broadpoint Capital, Inc., a broker-dealer subsidiary of Broadpoint Securities Group, Inc. (NASDAQ: BPSG), today announced further growth in its mortgage-backed security/asset-backed security trading division, Broadpoint DESCAP. The division launched a new Repurchase Desk and expanded its Structured Products Group.
Broadpoint DESCAP's Repurchase Desk will be led by Joanmarie Pusateri, a former Bear Stearns managing director, and the Structured Products Sales Group added five experienced sales professionals.
"While much of Wall Street contracts, we are expanding to meet the critical needs of our institutional clients," said Lee Fensterstock, Chairman and CEO of Broadpoint. "We are excited to have these talented individuals join our team as we build a firm to meet the challenges facing clients today."
"The creation of a Repo Desk and expansion of our Structured Products Group will enhance the services we are able to provide to our clients during these challenging times," said Rob Fine, Head of Broadpoint DESCAP. "These individuals bring a wealth of experience to Broadpoint DESCAP that will serve our clients well."
Before joining Broadpoint, Ms. Pusateri worked for 22 years building her career at Bear Stearns & Co., Inc. with an emphasis on fixed income trade settlements. In 2003, Ms. Pusateri joined Bear Stearns Asset Management where she was Managing Director and responsible for creating and managing a multi-billion dollar repurchase book for three fixed income/structured product hedge funds.
Joining Broadpoint DESCAP's Structured Products Sales Group are the following professionals:
- P. Read Burns, Jr. Prior to joining Broadpoint, Mr. Burns worked at Lehman Brothers for 13 years, most recently in its Boston Institutional Client Group, where he focused on MBS and ABS Sales.
- Jisook Choi. Ms. Choi joins Broadpoint as an institutional salesperson specializing in structured products. Prior to joining Broadpoint, she spent 11 years at Bear Stearns & Co. Inc, the last seven of which were spent as a product specialist, globally marketing and originating various types of structured products including cash, synthetic and esoteric transactions.
- James Hurst. Mr. Hurst brings 16 years of experience in structured products to Broadpoint. Most recently, he served as a director in structured products at Barclays Capital in Boston, and prior to Barclays, he spent 13 years with Lehman Brothers.
- Michael "Petro" Petrucelli. Mr. Petrucelli joined Broadpoint after a 15-year career at Lehman Brothers. In his last role at Lehman, Mr. Petrucelli was Senior Vice President and Structured Products & Loan Salesperson for seven years, working with a wide range of financial counterparties. Prior to his sales role, Mr. Petrucelli traded agency and non agency CMOs at Lehman Brothers.
- John Rozario. Prior to joining Broadpoint, Mr. Rozario worked at Merrill Lynch in its Structured Credit Products Sales group. Prior to Merrill, he worked for several years at CIBC World Markets in its Structured Credit Products group, where he led a team responsible for origination, structuring and distribution of structured financing solutions for institutional clients.
About the Company
Broadpoint Securities Group, Inc. (NASDAQ: BPSG) is an independent investment bank that serves the institutional investor and corporate middle market by providing clients with strategic, research-based investment opportunities, capital raising, and financial advisory services, including merger and acquisition, restructuring, recapitalization and strategic alternative analysis services. The Company offers a diverse range of products through the Debt Capital Markets, Investment Banking and Broadpoint DESCAP divisions of Broadpoint Capital, Inc., its new Equity Capital Markets subsidiary, Broadpoint AmTech and FA Technology Ventures Inc., its venture capital subsidiary. For more information, please visit [ www.bpsg.com ].
Forward Looking Statements
This press release contains "forward-looking statements." These statements are not historical facts but instead represent the Company's belief regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. The Company's forward-looking statements are subject to various risks and uncertainties, including the conditions of the securities markets, generally, and acceptance of the Company's services within those markets and other risks and factors identified from time to time in the Company's filings with the Securities and Exchange Commission. It is possible that the Company's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in its forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake to update any of its forward-looking statements.
