Mr. Fine joined Broadpoint in 2004 in connection with its acquisition of DESCAP Securities Inc. Mr. Fine founded the Institutional Fixed-Income Sales and Trading group for DESCAP Securities Inc. in 1991 and has held the position of President since 1993. Prior to joining Broadpoint DESCAP, Mr. Fine spent four years with Garvin Guy Butler in the Mortgage Backed Trading Group. Prior to joining Garvin Guy Butler, Mr. Fine worked for Smith Barney and Kidder, Peabody & Co. Mr. Fine holds a BA in Economics and Finance from Adelphi University.

Mr. Tirschwell joined Broadpoint.Gleacher in 2004 in connection with its acquisition of DESCAP Securities Inc. Mr. Tirschwell joined DESCAP in 1991 as a salesman. He was named Head of Trading in 1998. Under his leadership, DESCAP, which began as a specified pool trading house, has become a firm with much greater breadth and scope, trading a variety of mortgage-and asset-backed securities. Mr. Tirschwell received a BA from the University of Wisconsin at Madison.