Braver Stern Securities LLC said its Richmond office will be one of two new locations. The firm, which specializes in the trading of mortgage-backed securities, also announced a new office in Boston.
The company said in a news release that it has hired David S. Cuttino, a former trader at BB&T Debt Capital Markets, to lead its institutional mortgage-backed sales operation in Richmond.
Braver Stern’s new office will be located at 500 Libbie Ave., and Cuttino for now will be its only local employee.
Braver Stern is headquartered in New York and has offices in California, Tennessee and Illinois.
Cuttino is a Virginia Tech graduate and earned his master’s in electrical engineering from Columbia University. In addition to his time at BB&T, Cuttino also has experience in managing mortgage-backed securities for West Side Advisors in New York. He began his career as an engineering contractor at the Naval Research Laboratory in Washington.
Braver Stern was founded in 1991. It provides sales and trading of securitized products to hedge funds, insurance companies, REITs and other investors.