Two structured products executives from PriceRidge Group in New York have left and re-emerged at Capital Guardian, a broker-dealer firm based in New York.
Joe Castelluccio, who had served as managing director and product manager for the structured products team at PrinceRidge from May 2010, is now serving as the executive managing director, fixed income/structured products at Capital Guardian. He is reportedly launching the broker-dealer’s structured products business for the firm.
Before PrinceRidge, Castelluccio served as the head of structured products at Maxim Group, also in NY, between 2005 and 2010. With 42 years of securities industry experience, past jobs included working for Prudential Securities from 1997 through 2003.
Stephen Cocco, Castelluccio’s colleague at PrinceRidge and the former executive director of structured products trading at the firm, has also recently moved to Capital Guardian. However, SRP was unable to confirm his new title or role. Cocco had been with PrinceRidge since May 2010, and had similarly served at Maxim Group between 2006 and 2010. Prior to that, he worked at Rutgers University in New Brunswick, NJ from 2002 until 2006.
It is not clear whether the pair left PrinceRidge voluntarily or if they were cut as part of the February 2014 merger of the broker-dealer subsidiaries of parent company Institutional Financial Markets. First announced in October 2013, the merger melded Cohen &Co/Prince Ridge with JVB Financial, with the latter being the surviving brand.
Cohen & Company completed its acquisition of JVB Financial Holdings in January 2011 and changed its corporate parent name to Financial Markets Inc.
Capital Guardian is an independent broker-dealer which has a strategic partnership with Pershing, the subsidiary of The Bank of New York Mellon which the bank acquired in May 2003 for $2bn.