Ex-Bear Stearns execs land at Broadpoint

The exodus from the soon-to-be defunct Bear Stearns continues: Two veterans from the firm have joined Broadpoint Capital.

The exodus from the soon-to-be defunct Bear Stearns continues: Two former financial services veterans from the firm have joined Broadpoint Capital Inc.
Richard Crescenzo and Douglas Scales will lead of a team of four investment grade fixed-income sales professionals in its debt capital markets division.
They will both assume the roles of managing director and co-head of the company’s new investment-grade-sales department.
Broadpoint Capital of Albany, N.Y., is a broker-dealer subsidiary of Broadpoint Securities Group Inc. in New York.Mr. Crescenzo has worked in fixed-income sales for nearly 30 years, including the last 14 at The Bear Stearns Cos. Inc.
Mr. Scales has spent 25 years in fixed-income sales, including the last eight at Bear Stearns.
Bear Stearns was bought earlier this year by New York-based JPMorgan Chase & Co. for a fire sale price of $2.2 billion, or $10 a share, after the Wall Street firm nearly collapsed (Investment News May 29.