Bear Stearns' Research Department Hires Robert Summers to Cover Supermarkets and Drugstores.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 -- Bear, Stearns & Co. Inc. today announced that it has hired Robert Summers
Robert Summers is an U.S. economist and professor emeritus, University of Pennsylvania, where he taught from 1960. as an equity research analyst to cover supermarkets and drugstores. Mr. Summers, a managing director, will report to Kay Booth, director of global research. "Bob is committed to producing the kind of in depth research of supermarkets and drugstores that our clients will find highly valuable and unique," said Ms. Booth. "He is not afraid to hold a different point of view and his research has been recognized as being among the best." In a recent Greenwich Associates survey, Mr. Summers was the top ranked analyst in the category of Retailing - Food & Staples (supermarkets & drugstores). Before joining Bear Stearns, Mr. Summers was an equity research analyst covering the food and drug retail sector at Banc of America Securities. While there, he was voted to Institutional Investor's Hedge Fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" 2004 All-America Research Team in the Retailing: Food & Drug Chains category. Mr. Summers also covered small cap restaurants for a year at Banc of America and was part of the team that covered furnishings and restaurants at Salomon Smith Barney. Founded in 1923, Bear, Stearns & Co. Inc. is a leading investment banking and securities trading and brokerage firm, and the major subsidiary of The Bear Stearns Companies Inc. (NYSE NYSE See: New York Stock Exchange :BSC (Binary Synchronous Communications) See bisync. ). With approximately $48.5 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, securities research, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Through Bear, Stearns Securities Corp., it offers financing, 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. , clearing and technology solutions to hedge funds, broker-dealers and investment advisors. 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 approximately 11,000 employees worldwide. For additional information about Bear Stearns, please visit the firm's website at http://www.bearstearns.com. |
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