Broadpoint Gleacher Securities Group Inc. (Nasdaq: BPSG) plans to rename itself Gleacher & Company. It also will reincorporate in Delaware.
Broadpoint Gleacher Securities Group, Inc. (NASDAQ: BPSG) today announced that its Board of Directors has oted to rename the Company “Gleacher & Company, Inc.” and to reincorporate in Delaware. The Company plans to submit these proposals to its shareholders at its 2010 Annual Meeting of Shareholders scheduled for May 27, 2010. In addition, the Company announced today that Jeffrey Kugler, the Controller of the Company’s principal broker-dealer subsidiary, Broadpoint Capital, Inc., has been named Acting Chief Financial Officer following the resignation of Robert Turner from the firm. The Company is conducting a search to find a permanent Chief Financial Officer and will consider both internal and external candidates.
Eric Gleacher, Chairman and Chief Executive Officer, said, “Our firm has grown substantially over the last two years and there continues to be unprecedented opportunities to further expand and grow. Our culture is based on teamwork and our team is clearly focused on capitalizing on the opportunities that exist in the market today.” Mr. Gleacher also said, “I want to offer my sincere thanks to Rob Turner for helping to build our finance and administrative functions. We wish him all the best with his future endeavors.”
Peter McNierney, President and Chief Operating Officer, said, “Growth in our advisory and capital markets origination businesses is key to our success in 2010 and over the long-term. The Gleacher name has been synonymous with high-quality investment banking services for over 30 years and is the strongest brand for us to unify under in marketing to our clients.”
Mr. Kugler has been Controller and Chief Operations Officer of Broadpoint Capital, Inc. since March 2008. He has over 20 years of experience in the securities and financial services industries. Mr. Kugler received his B.A. from Rutgers University and is a registered C.P.A. in the states of New York and New Jersey.
Broadpoint Gleacher 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.