Business & Finance
Business and Finance
Business and Finance
Thu, February 26, 2009 Broadpoint Capital Expands Mortgage and Asset Backed Sales and Trading
NEW YORK--([ BUSINESS WIRE ])--Broadpoint Capital, Inc., a broker-dealer subsidiary of Broadpoint Securities Group, Inc. (NASDAQ: BPSG), today announced that Chris Lau, Ryan King, Brian Horan, Joseph Lyons, and Mike Regan have joined Broadpoint DESCAP, its Mortgage-Backed Security/Asset-Backed Security and Rates division.
Mr. Lau joins Broadpoint as a Managing Director of the Commercial Mortgage-Backed Securities group. Prior to joining Broadpoint, he worked for 12 years at RBS Greenwich Capital, the last four of which he spent as a Managing Director on the CMBS desk. Prior to RBS, Mr. Lau worked at Lehman Brothers Inc. as an analyst for the bond options desk.
Mr. King joins Broadpoint in the Asset-Backed Securities Trading group. Before joining Broadpoint, he worked at Barclays Capital where he held various positions, most recently as an Associate Director of ABS Trading. Prior to Barclays, he was an Associate in the Generalist Sales group selling corporate bonds, CDS, TIPS, agencies, and ABS.
Mr. Horan joins Broadpoint as a Director of MBS Trading. Prior to joining Broadpoint, he worked at GMAC RFC Securities as a trader of adjustable rate mortgage products. Previously, he worked in similar roles at both Friedman Billings Ramsey and Freddie Mac's Securities Sales and Trading Group. Mr. Horan brings more than 8 years of experience in Agency ARM trading and marks Broadpoint's further expansion into a greater presence in the Agency ARM market.
Mr. Lyons joins the Sales group of the division. Prior to joining Broadpoint, he was an Executive Director of the Fixed Income Structured Credit Sales group at Morgan Stanley. Prior to Morgan Stanley, he worked for Goldman Sachs, & Co. as an analyst in the Fixed Income Sales group.
Mr. Regan joins the Sales group of the division. Mr. Regan started his career as a mortgage originator at Citimortgage. For the past three years, he was a Director at the Bank of America where he managed a team of four covering hedge funds, money managers and insurance companies. In 2008, he was ranked in the top five in sales production at Bank of America.
Lee Fensterstock, Chief Executive Officer, said, "Broadpoint DESCAP, our Mortgage-Backed Security/Asset-Backed Security and Rates division has made outstanding progress over the last 12 months. I am very pleased to have Chris, Ryan, Brian, Joe and Mike join this winning team."
Rob Fine, President of Broadpoint Descap, said, "The addition of these very talented professionals allows us to both expand our capabilities in certain asset classes, and introduce new products to our platform."
About the Company
Broadpoint Securities Group, Inc. (NASDAQ: BPSG) is an independent investment bank that provides corporations and institutional investors 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 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.
