PriceRidge Names Barry Berkeley Head of the U.S. Residential Mortgage Backed Securities Group

January 9, 2012

NEW YORK, NY – PrinceRidge, the financial services firm led by John Costas (Chairman) and Michael Hutchins (CEO), has named Barry Berkeley Head of the U.S. Residential Mortgage Backed Securities Group. Mr. Berkeley will be responsible for all U.S. Residential Mortgage Backed sales and trading activities at the firm. Michael Hutchins said “We are pleased to have Barry join PrinceRidge and look forward to his impact on our residential mortgage platform.”

“I am very pleased to have the opportunity to join PrinceRidge and lead the effort to greatly expand our Mortgage Backed Securities capabilities,” said Mr. Berkeley. “With many firms on Wall Street downsizing, there has never been a better opportunity to bring on so many talented individuals as are currently available.”

Mr. Berkeley brings more than 30 years of industry experience to the PrinceRidge management team. He most recently served as a Senior Managing Director within the institutional fixed income division at Sterne Agee & Leach. Previously he was Managing Director at Morgan Keegan, RBC Capital Markets, and Chase Securities where he served as the Head of the Mortgage Backed Securities Division.