Broadpoint Forms New Recapitalization and Restructuring Group.Tim O'Connor Tim O'Connor can refer to:
NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Broadpoint Capital, Inc., the broker-dealer subsidiary of Broadpoint Securities Group, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BPSG BPSG Boron-Doped Phosphosilicate Glass ), today announced that it has hired Tim O'Connor as Executive Managing Director, as well as 9 other individuals to establish its new Recapitalization and Restructuring group. In addition to leading the new group, Mr. O'Connor will head Broadpoint's overall Investment Banking effort. David Reed, who had recently held this position, will now lead Broadpoint's Mergers and Acquisitions practice. Mr. O'Connor has over 20 years of corporate finance experience, having recently spent 3 1/2 years at Jefferies Group, Inc. Joining Broadpoint's new Recapitalization and Restructuring group is Greg Ethridge, Principal; and Maury Apple, Sunny Cheung, David Haines, Edward Krasnov, Edward Murtha, Matt Pennino, Vimarth Shukla, and Drew Weisman. This new group brings to Broadpoint proven expertise in the debt restructuring Debt Restructuring A method used by companies with outstanding debt obligations to alter the terms of the debt agreements in order to achieve some advantage. Notes: and recapitalization disciplines. Lee Fensterstock, Chairman and Chief Executive Officer of Broadpoint, said, "Tim, Greg, and their team bring a set of skills in the debt advisory and debt capital markets areas that will complement our equity capital markets and advisory capabilities and enable us to deliver a complete product offering to our middle market corporate and institutional client bases." Peter McNierney, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , said, "Tim's relationships, particularly with the private equity and hedge fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" universe are completely additive to our current industry verticals." Recently, Broadpoint announced the acquisition of BNY BNY Bank of New York Capital Markets, Inc.'s New Jersey based Fixed Income division. Upon the closing of that transaction, Joe Mannello will become Executive Managing Director and Head of the new Broadpoint Fixed Income division. Mr. Mannello said, "Tim and his team are a perfect complement to the current Broadpoint Investment Bank and will play a big role in leveraging our trading and distribution platform." Rob Fine, President of Broadpoint Securities, Inc., Broadpoint's Mortgage and Asset backed division, said, "These new additions will be significant value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. to helping us expand our collateralized loan obligation Collateralized loan obligation (CLO) A security backed by a pool of commercial or personal loans , structured so that there are several classes of bondholders with varying maturities, called tranches. Similar in structure to Collateralized Mortgage Obligations. and collateralized debt obligation Collateralized Debt Obligation (CDO) A general inclusive term which covers Collateralized Bond Obligations, Collateralized Loan Obligations, and Collateralized Mortgage Obligations, business." About the Company Broadpoint Securities Group, Inc. (NASDAQ: BPSG) is an independent investment bank that serves the growing institutional market and corporate middle market by providing clients with strategic, research-based investment opportunities, as well as advisory and financing services. The Company offers a diverse range of products through its Equities division, as well as Broadpoint Securities, Inc., its mortgage-backed security/asset-backed security trading subsidiary, and FA Technology Ventures Inc., its venture capital division. 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. |
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