Broadpoint Creates MBS 'Repurchase' Desk

Broadpoint DESCAP, the mortgage-backed security/asset-backed security trading division of Broadpoint Capital Inc., New York, has launched a new repurchase desk and expanded its structured products group. The repurchase desk will be headed by Joanmarie Pusateri, a former Bear Stearns managing director. Before joining Broadpoint, Ms. Pusateri worked for 22 years building her career at Bear Stearns with an emphasis on fixed-income trade settlements. In 2003, Ms. Pusateri joined Bear Stearns Asset Management where she was a managing director responsible for creating and managing a multibillion-dollar repurchase book for three fixed-income/structured product hedge funds. Broadpoint Capital is the broker-dealer subsidiary of Broadpoint Securities Group Inc.