Broadpoint.Gleacher Announces Corporate Changes
March 31 2010 - 3:01PM
Business Wire
Broadpoint Gleacher Securities Group, Inc. (NASDAQ: BPSG) today
announced that its Board of Directors has voted 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.
About Broadpoint.Gleacher
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.
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.
ADDITIONAL INFORMATION AND WHERE TO FIND IT
This press release is not a substitute for the proxy
statement that the Company intends to file with the SEC. In
connection with the Company name change and reincorporation in
Delaware, the Company will prepare a proxy statement for the
Company’s shareholders. When completed, a definitive proxy
statement and form of proxy will be filed with the SEC and mailed
to the Company’s shareholders of record. BEFORE MAKING ANY
VOTING DECISION, THE COMPANY’S SHAREHOLDERS ARE ADVISED TO
CAREFULLY READ THE PRELIMINARY PROXY STATEMENT AND THE DEFINITIVE
PROXY STATEMENT, WHEN AVAILABLE, BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION ABOUT THE COMPANY AND THE PROPOSALS TO BE
ACTED UPON AT THE COMPANY’S ANNUAL MEETING. The Company’s
stockholders may obtain a free copy of the preliminary proxy
statement and the definitive proxy statement (when available) and
other documents filed by the Company with the SEC at the SEC’s
website at www.sec.gov. The Company’s shareholders may also obtain
a free copy of the preliminary proxy statement and definitive proxy
statement (when available) and such other documents by visiting the
Company’s website at www.bpsg.com under the heading “Investor
Relations – Proxy” or by directing such request to Broadpoint
Gleacher Securities Group, Inc., 12 East 49 th Street, 31 st Floor,
New York, New York, 10017, Attn: Corporate Secretary.
The Company and its directors and executive officers and other
members of management and employees may be deemed to be
participants in the solicitation of proxies in respect of the
proposed name change and reincorporation. Information concerning
the Company and its directors and executive officers will be set
forth in the Company’s proxy statement.
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