10.05.2011
By Terry Flanagan

B-D Bolsters Management

The broker-dealer subsidiary of Gleacher & Co. has made several key hires in the past week in a move to solidify management positions.

Gleacher & Co. Securities has announced that it has added five industry veterans as managing directors, including Richard Baxter, who has nearly two decades of sales and trading operations management experience.

Also recently joining Gleacher & Co. as managing directors are Gabe Borenstein, Christopher Owens, Daniel Baffoe and Jason Walsh. Borenstein and Owens will be based in New York, and Baffoe and Walsh will be based in the firm’s Chicago office.

“We are building on the strengths of our firm by adding five highly experienced sales and trading professionals to our team,” said Thomas Hughes, Gleacher & Co. chief executive officer. “Consistent with our strategy, we are leveraging our in-house expertise and the execution capabilities of our fixed-income business to capitalize on opportunities in the mortgage-backed securities, rates, and credit markets. We… look forward to further strengthening our team and broadening our client relationships in fixed-income sales and trading.”

Baxter previously spent time at Cabrera Capital Markets, where he served as managing director and head of taxable fixed income trading. He has also served as vice president of futures trading at Fidelity Investments, assistant portfolio manager at Providence Investment Management and vice president at Goldman Sachs. Baxter received his B.A. in Economics with a minor in English from Villanova University.

The additions come about a week after the company announced the addition of Jerry Lee as a managing director of its crossover credit trading business. Lee also has nearly 20 years of experience, specifically in the credit markets, at institutions including Citadel Securities, Bank of America and J.P. Morgan. Lee established J.P. Morgan’s crossover trading desk in 2001.

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