Bear B-D takes on sales execs

Bear Stearns Broker-Dealer Services has expanded its sales and account officer teams with four new hires. Robert Mumby and John Wellington are now account officers and managing directors at BDS. In this new capacity, they will maintain relationships with client firms and deliver solutions. Through the last decade, Mr. Mumby has advised broker-dealers through his own consulting firm. Meanwhile, Mr. Wellington, a 22 year veteran of the financial services sector, joins from indie broker-dealer Advest Inc., where he was chief operating officer. Michael Calvelli and Mark Van Ostenbridge have also joined BDS as a managing director and associate director, respectively. Mr. Calvelli spent the last six years as a consultant and president of Sorrento Pacific, a broker dealer. Mr. Van Ostenbridge comes from Pershing’s sales and relationship management group, where he was a vice president.