BEAR STEARNS CONTINUES EXPANSION OF FIXED INCOME EFFORT; HIRES PETER MILHAUPT IN CAPITAL MARKETS AND JAMES EGAN IN MORTGAGE-BACKED SALES.NEW YORK--(BUSINESS WIRE)--March 28, 1996--Bear, Stearns & Co. Inc. announced today that Peter Milhaupt and James Egan have joined the firm as senior managing directors in the Fixed Income Division. Mr. Milhaupt will be a senior calling officer in Fixed Income Capital Markets, and Mr. Egan will be a senior salesperson and mortgage-backed product manager in the Fixed Income Sales. Peter Milhaupt brings to Bear Stearns extensive domestic and international investment banking and capital markets expertise. Mr. Milhaupt has spent the past 14 years of his career at CS First Boston where he held several senior positions; for the past four years he was a managing director and senior capital markets officer in the Fixed Income Department. From 1988 to 1989 he was a director of Investment Banking and co-head of the non-Japan Asian region. Between 1984 and 1988 he was based in London where he was responsible for covering the corporate sector and developing the privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned effort in the UK. Since 1986 James Egan has been with First Boston where he was a managing director and national sales manager in that firm's Taxable Fixed Income Department. Mr. Egan will be joined by Brian McGrath, also from First Boston, who will be an associate director working with Mr. Egan in mortgage- and asset-backed sales. Warren Spector, executive vice president and head of Bear Stearns' Fixed Income Division, said, "We are delighted with the extraordinary talent that both Jim and Peter bring to Bear Stearns. Our No. 1 - ranked mortgage-backed effort and commitment to this important sector clearly are factors in our ability to continue to attract such outstanding professionals as Jim and his partner Brian. Peter's tremendous global capital markets and investment banking experience is a perfect fit with our ongoing client-driven strategy that links the firm's fixed income, capital markets and investment banking capabilities." During 1995 Bear Stearns participated in some of the year's most significant and high-profile domestic investment grade corporate debt transactions, including those for American Home Products, Ford Motor Credit, ITT ITT Initial Teacher Training (UK) ITT I Think That ITT Invitation To Tender ITT Individual Time Trial (professional cycling) ITT Intention-To-Treat ITT In This Thread (forums) Destinations, Raytheon, TCI (Trustworthy Computing Initiative) An umbrella term from Microsoft for its efforts to improve security in Windows. TCI was announced in 2002 after viruses such as Code Red and Nimda had succeeded in attacking numerous Windows computers. Communications and Viacom. In January 1996, Bear Stearns represented Chrysler Financial, Ford Motor Credit and General Motors Acceptance Corporation in three financings within a three-week period, which is the first time a Wall Street firm has ever lead managed consecutive issues for all three of the nation's auto manufacturers. An added strength of our leading role in the fixed income markets is Bear Stearns' fixed income research effort which is ranked No. 1 by Institutional Investor Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. . Bear Stearns is a major underwriter and distributor of mortgage- and asset-backed securities and derivative products. Client transactions in all phases of securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. are facilitated by the integration of mortgage-backed generic trading, derivative product issuance and trading, analytics and the largest fixed income sales force in the securities industry. Bear, Stearns & Co. Inc., a leading worldwide investment banking and securities trading and brokerage firm, is the major subsidiary of the Bear Stearns Companies Inc. (NYSE NYSE See: New York Stock Exchange :BSC (Binary Synchronous Communications) See bisync. ). With approximately $7.1 billion in total capital, Bear Stearns serves governments, corporations, institutions and individuals worldwide. The company's business includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales and trading, private client services, asset management, securities clearing, securities lending Securities Lending When a brokerage lends securities owned by its clients to short sellers. Notes: This allows brokers to create additional revenue (commissions) on the short sale transaction. and custody services. Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , the company has over 7,500 employees located in domestic offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, San Francisco and Washington, D.C.; and an international presence in Beijing, Buenos Aires, Geneva Geneva, canton and city, Switzerland Geneva (jənē`və), Fr. Genève, canton (1990 pop. 373,019), 109 sq mi (282 sq km), SW Switzerland, surrounding the southwest tip of the Lake of Geneva. , Hong Kong, Karachi, London, Madrid, Manila, Paris, Sao Paulo, Shanghai, Singapore and Tokyo. CONTACT: Bear Stearns, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Hannah Burns, 212/272-2395 Maura Gaenzle, 212/272-4445 |
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