Bear Stearns Asset Management to Expand Institutional Business Targeted to Middle Market Corporations and Insurance Companies.NEW YORK--(BUSINESS WIRE)--Sept. 22, 1998--Bear, Stearns & Co. Inc. announced today that Bear Stearns Asset Management (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 ) is expanding its focus on the middle market corporate and insurance company markets, with the addition of two experienced client service professionals. Christopher J. Hannon will be responsible for building BSAM's East Coast business in these markets and James M. Marrone Jr. will be responsible for clients in the Midwest and Western U.S. This latest expansion is part of BSAM's overall effort to build its asset management institutional marketing and client service capabilities. Mr. Hannon joins the firm after six years as co-director for sales and marketing at Hyperion Capital Management, Inc., where he focused on building the firm's insurance business and developing specialized products for that market. Mr. Hannon holds a BS from the University of Rhode Island History The University was first chartered as the state's agricultural school in 1888. The site of the school was originally the Oliver Watson Farm, and the original farmhouse still lies on the campus today. and an MBA from the University of Connecticut The University of Connecticut is the State of Connecticut's land-grant university. It was founded in 1881 and serves more than 27,000 students on its six campuses, including more than 9,000 graduate students in multiple programs. UConn's main campus is in Storrs, Connecticut. . Mr. Marrone comes to the firm after five years as the director of marketing at Capital Management Associates, where he was responsible for marketing and client services to institutional clients. Mr. Marrone holds a BA from the College of the Holy Cross The College of the Holy Cross is an exclusively undergraduate Roman Catholic liberal arts college located in Worcester, Massachusetts, USA. Holy Cross is the oldest Roman Catholic college in New England and one of the oldest in the United States. . Doni Fordyce, senior managing director and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of BSAM said, "We are delighted to be building our business among middle market corporates and insurance companies. These segments present strategic opportunities for BSAM, and we're proud to be serving them with experienced professionals like Chris and Jim. The additions to our institutional client service marketing staff is part of BSAM's ongoing commitment to expand both our product offerings and services to the full spectrum of institutional clients." The institutional marketing team at BSAM now includes five experienced professionals. In addition to Mr. Hannon and Mr. Marrone covering middle market corporates and insurance companies, Gwen Butler covers public pension plans, Ed Marlin covers the Taft-Hartley market and Maureen Mitchell covers foundations and endowments. BSAM intends to continue to grow its marketing effort, focusing on large corporations -- both their operating cash and their pension plans. Bear Stearns Asset Management Inc., the investment management arm of Bear Stearns, manages over $9 billion in assets across a wide spectrum of investment disciplines, including US equities; domestic, global, and emerging markets fixed income; balanced accounts; and alternative investment products, including venture capital and equity and fixed income hedge funds. BSAM's investment management expertise is made available to a broad range of investors through separate account management and the Bear Stearns Family of Funds Family of Funds A group of mutual funds offered by one investment or fund company. Each mutual fund has different characteristics and can range depending on investment objective. Also referred to as a "Mutual Fund Family" or simply a "Fund Family". . Its diverse client base includes institutions, employee benefit plans, university endowments, charitable trusts, individuals and family groups. 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 $17.9 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, derivatives, asset management, correspondent clearing, securities lending, 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 approximately 9,300 employees located in domestic offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, and San Francisco; and an international presence in Beijing, Buenos Aires, Dublin, 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, London, Lugano, Paris, Sao Paulo, Shanghai, Singapore and Tokyo. |
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