Eric Gleacher has been named CEO at Broadpoint Gleacher Securities in light of Lee Fensterstock’s decision to step down from the role to “pursue other interests,” the firm announced Monday.
Fensterstock has also resigned from his seat on the Board of Directors. In addition to the CEO duties, Gleacher will continue to serve as chairman, the company said in a statement. He became chairman at the firm following the June 2009 acquisition of Gleacher Partners by Broadpoint. In addition to launching Gleacher Partners, the statement also credits him with establishing the M&A department at Lehman Brothers in 1978, and heading the global M&A group at Morgan Stanley from 1985 to 1990.
“The unprecedented changes in the investment banking industry over the past years continue to provide us with enormous opportunities to enhance and grow our business,” Gleacher said regarding the leadership changes at the firm. “We continue to see very talented people departing large, highly regulated firms in pursue of more entrepreneurial culture and opportunity.”
Headquartered in New York, Broadpoint Gleacher “provides corporate and institutional clients with first class, independent advice and execution in the areas of advisory services, capital raising and research, sales and trading,” according to its Web site.