Gleacher & Co. (GLCH:US), the company that expanded in 2009 by buying a boutique advisory founded by Eric Gleacher, hired Perrin Arturi and Donald Ullmann to co-head its broker-dealer unit’s division for mortgage- and asset-backed bonds and so-called rates products such as Treasuries.
Arturi and Ullmann are joining the New York-based company as executive managing directors, Gleacher said today in a statement distributed by Business Wire.
“In bringing in Perrin and Don, we’ve gotten two seasoned professionals,” Chief Executive Officer Thomas Hughes said in a telephone interview. “One is very deep in trading knowledge and in managing risk. The other is someone who has been client- facing his entire career and knows how to help them add value.”
Arturi, who was previously a managing director at Royal Bank of Scotland Plc, spent 19 years at Bear Stearns Cos., including as its head trader of mortgage pass-through securities, according to the statement. He held a similar role at UBS AG before joining RBS.
Ullmann most recently was the head of fixed-income trading and co-head of fixed-income sales at Keefe, Bruyette & Woods Inc. (KBW:US), where he worked for eight years. He spent 14 years at Merrill Lynch & Co., including as head of mortgage-backed securities sales and research, and chief operating officer for global securities research and economics, according to the statement.
Gleacher had said last month that Robert Fine, the previous head of the division they will lead, and Robert Tirschwell, the group’s trading head, would leave the company. The two joined the firm in 2004 after leading Descap Securities Inc., which was bought by Gleacher, known at the time as First Albany Cos.
Gleacher, then known as Broadpoint Securities Group Inc., bought Gleacher Partners Inc. in 2009.Eric Gleacher, the company’s current chairman, founded Gleacher Partners in 1990 after stints heading mergers and acquisitions at Lehman Brothers Holdings Inc. and Morgan Stanley.
The mortgage-trading business is an “area that has been historically very important for our company, and it continues to be,” Hughes said.
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