Bear Stearns Bank plc in Dublin Appoints New Management Team.Business Editors DUBLIN, Ireland--(BUSINESS WIRE)--November 29, 2001 Bear Stearns Bank plc announced new management changes during its annual board meeting held at the firm's headquarters in Dublin, Ireland. Niamh Walsh and Liam MacNamara have been named joint-chief executives of the Bank. Additionally, David Harte, former head of Internal Audit, was named 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. , and Dara Quinn, former controller, was appointed chief financial officer. At the same meeting, Pascal Lambert, former CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the Bank, was appointed as the bank's new chairman. Mr. Lambert succeeded Samuel Molinaro, chief financial officer of The Bear Stearns Companies Inc. who served as chairman of Bear Stearns Bank plc since 1998. Commenting on these appointments, Mr. Lambert, said, "We are confident these four talented individuals, who have helped us build the Bank since its beginning, we'll be successful in guiding this franchise to its next stage of development." The Bank, located in Dublin, will continue to focus on its two current business lines, which are OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). derivatives and clearance activities, and may consider some other business ventures. Ms. Walsh and Mr. MacNamara both joined the firm in 1997. Prior, Ms. Walsh was a risk manager with Tokai Bank in Hong Kong and Mr. MacNamara worked with AIB AIB n abbr (BRIT) (= Accident Investigation Bureau) → oficina de investigación de accidentes AIB n abbr (Brit) (= Accident Investigation Bureau) → Bank as a credit manager. Founded in 1923, The Bear Stearns Companies Inc. (NYSE NYSE See: New York Stock Exchange : BSC (Binary Synchronous Communications) See bisync. ) is the parent company of Bear, Stearns & Co. Inc., a leading investment banking and securities trading and brokerage firm serving governments, corporations, institutions and individuals worldwide. With approximately $28.7 billion in total capital, the company's business includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales, trading and research, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Through Bear, Stearns Securities Corp., it offers prime broker and broker dealer clearing services, including 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. . 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 10,500 employees located in domestic offices in Atlanta, Boston, Chicago, Dallas, Denver, Los Angeles, San Francisco and San Juan; and an international presence in Beijing, Dublin, Herzliya, Hong Kong, London, Lugano, Milan, Sao Paulo, Seoul, Shanghai, Singapore and Tokyo. For additional information about Bear Stearns, please visit our Web site at http://www.bearstearns.com . |
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