Broadpoint DESCAP, the MBS/ABS security trading division of Broadpoint Capital, New York, has launched a new repurchase desk and expanded its structured products group.

The repurchase desk will be headed by Joanmarie Pusateri, a former Bear Stearns managing director. Before joining Broadpoint, Pusateri worked for 22 years building her career at Bear Stearns with an emphasis on fixed-income trade settlements.

In 2003, Pusateri joined Bear Stearns Asset Management where she was a managing director responsible for creating and managing a multibillion-dollar repurchase book for three fixed-income/structured product hedge funds. Broadpoint Capital is the broker-dealer subsidiary of Broadpoint Securities Group.

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