Bear Stearns Announces Executive Appointments: Bruce Lisman and Steven Meyer Named Co-Heads of Global Equities; Wendy de Monchaux to Lead Principal Strategies Effort; Peter Cherasia's Role Expands to Include Operations and IT.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. announced today a number of executive management appointments. Bruce Lisman and Steven Meyer have been named co-heads of global equities, an effort that encompasses all of the firm's cash equities, structured equities and clearing activities. Previously, Mr. Lisman headed the firm's global cash equities business and Mr. Meyer headed the structured equities product area. "We are improving our ability to effectively deliver to our clients an exceptional and broad array of products and services," Bear Stearns The Bear Stearns Companies, Inc. (NYSE: BSC) is the parent company of Bear, Stearns & Co. Inc., one of the largest global investment banks and securities trading and brokerage firms in the world. Chairman and Chief Executive Officer James E. Cayne said, "Increasingly, our clients are using multiple products and services that span the length and breadth of the firm. This change enhances our efforts to deliver the firm globally to our clients in a seamless, customer-friendly manner." Additionally Bear Stearns announced the formation of the Principal Strategies Group. This group, which will be managed by Wendy de Monchaux, former head of derivatives, amalgamates The Amalgamates, founded in 1984, are Tufts University's premier coed collegiate a cappella group. Like most college a cappella groups, the "'Mates" arrange and learn a new repertoire of rock, pop, R&B, alternative, and jazz covers every semester. certain existing proprietary trading Proprietary Trading When a firm trades for direct gain instead of commission dollars. Essentially, the firm has decided to profit from the market rather than commissions from processing trades. activities throughout the firm into a single unit that will pursue proprietary risk strategies. Messrs. Lisman, Meyer and Ms. de Monchaux will report to President and Co-Chief Operating Officer, Warren Spector. Peter Cherasia's role as Chief Information Officer and co-head of the company's Equity Analytics and Systematic Trading group (E.A.S.T.) has been expanded as he will now head Operations and Technology for the firm. Mr. Cherasia will report to Executive Vice President and Chief Financial Officer, Samuel Molinaro. "This is an incredibly talented group of executives who are continuing to lead Bear Stearns as we grow and improve our comprehensive client service worldwide," said Mr. Cayne. About Bear Stearns Founded in 1923, The Bear Stearns Companies Inc. (NYSE NYSE See: New York Stock Exchange :BSC (Binary Synchronous Communications) See bisync. ), with approximately $61.9 billion in total capital, serves governments, corporations, institutions and individuals worldwide. Its major subsidiary, Bear, Stearns & Co. Inc., includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales and trading, securities research, private client services, derivatives, foreign exchange and metals, 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 13,000 employees worldwide. For additional information about Bear Stearns, please visit the firm's website at www.bearstearns.com. |
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