Bear Stearns Asset Management Acquires Heckman Global Advisors.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 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. Asset Management Inc. (BSAM BSAM Basic Sequential Access Method BSAM Basic Software Acquisition Management course (at IRMC/DSMC also known as SAM 101) BSAM Business Subject Area Model BSAM Bachelor of Shuddha Ayurvedic Medicine BSAM Basic Synchronous Access Method ) announced today that it has acquired the assets of Heckman Global Advisors, the equity investment research firm founded by Dr. Leila Heckman in 2002. Dr. Heckman, a senior managing director, is based in New York and will continue to provide investment research and advice on equity allocations across countries, sectors and industries on a global basis and customized consulting services and interactive models. In addition, Dr. Heckman will be developing investment products for BSAM based on her proprietary models. Commenting on the appointment, Rich Marin, chairman and chief executive officer of BSAM, said, "Dr. Heckman is known in the industry for her outstanding research and historical model portfolio performance. We are pleased she has chosen Bear Stearns and believe Heckman Global Advisors will be a complementary addition to BSAM." Dr. Heckman added, "I am excited to be joining Bear Stearns. The combination of our research, resources and infrastructure will provide both existing clients and future clients with the best proprietary global investment research and investment products." Dr. Heckman focuses on research and modeling factors in 47 developed and emerging markets. Ranked #1 or #2 in Institutional Investor's Global Equity survey from 1998-2002, Dr. Heckman's team has provided disciplined and quantitative application of fundamental factors, adding significant value to the research of country selection. Prior to heading her own firm, Dr. Heckman was at Salomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. for 10 years where she was managing director of Global Asset Allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. . Prior to that, Dr. Heckman was vice president of the International Equity Allocation Division of Alliance Capital and she held product development and managerial positions at Sanford Bernstein and Citigroup. Dr. Heckman received her BA in mathematics from Brown University, an MS in Operational Research from Cornell University Cornell University, mainly at Ithaca, N.Y.; with land-grant, state, and private support; coeducational; chartered 1865, opened 1868. It was named for Ezra Cornell, who donated $500,000 and a tract of land. With the help of state senator Andrew D. and a PhD in Statistics from Polytechnic University. Additionally, joining from Heckman Global Advisors are Nari Narayanan and Dr. John J. Mullin, both managing directors, Joon-Ho Lee, vice president, and Zoya Raynes, client service manager. About Bear Stearns Asset Management Inc. Bear Stearns Asset Management Inc. (BSAM) was founded in 1984 and is a wholly-owned subsidiary of The Bear Stearns Companies Inc. (NYSE NYSE See: New York Stock Exchange :BSC (Binary Synchronous Communications) See bisync. ) The firm currently manages more than $32.5 billion in assets, with expertise spanning equity, fixed income and alternative investment strategies, while providing comprehensive asset management services to institutional and high-net-worth investors. Corporations, municipal governments, multi-employer plans, endowments, foundations and family groups rely on BSAM's disciplined investment processes, investment performance and superior client service. About Bear Stearns 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:BSC). With approximately $52.1 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, 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 11,500 employees worldwide. For additional information about Bear Stearns, please visit the firm's website at http://www.bearstearns.com. |
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