Bear Stearns Hires Jeremy Sillem to Head European Expansion; Leading International Banker Named Chairman of Bear, Stearns International Limited.Business Editors NEW YORK--(BUSINESS WIRE)--March 27, 2000 The 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. Companies Inc. announced today that Jeremy Sillem is joining the firm as a senior managing director and chairman of Bear, Stearns International Limited in London to oversee and direct the expansion of its European investment banking business. Commenting on the appointment, James E. Cayne, president and chief executive officer, said, "Europe is a top priority, and having Jeremy on board to lead the effort clearly signals the extent of our commitment to its growth and to maintaining the highest standard of excellence in serving corporate clients. His investment banking experience -- both in terms of senior management and client relationships -- makes him the most important piece in transforming our strategy into reality." Mr. Sillem is joining Bear Stearns from Lazard where he was a managing director and co-head of the firm's worldwide capital markets activities. Mr. Sillem started his career with Lazard in 1971 in London before moving to 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 in 1985. There he became a general partner in 1989 heading the firm's equity sales, trading and research department and subsequently its corporate finance department. He returned to London in 1995 as chief executive of Lazard Capital Markets Lazard Capital Markets is a New York-based investment bank founded in 2005 in a spin-off from its parent Lazard. Lazard Capital Markets focuses its activities on equity research, sales and trading; fixed income and convertible bond sales and trading; and securities , a newly formed partnership created to develop Lazard's securities underwriting and distribution activities in Europe. He also served as a managing director of Lazard Brothers & Co., Limited. Mr. Sillem received an MA from Oxford University. He is a member of the International Capital Markets Committee of the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . "My career at Lazard has been immensely rewarding, and the decision to leave very difficult to take. This new opportunity to establish Bear Stearns as an important participant in European investment banking was, however, highly compelling. The firm is very successful in the U.S., and I look forward to building on that foundation and extending it to the rapidly developing European marketplace," said Mr. Sillem. In a related move, the company also announced that Andrew Bugas, a Bear Stearns senior managing director and a member of the Investment Banking Operating Committee, will be moving to the London office to support Mr. Sillem's efforts and serve as a link between Bear Stearns' U.S. and European businesses. Mr. Bugas has been with Bear Stearns since 1993 and has been instrumental in developing the firm's domestic banking franchise. Together with Mr. Sillem, Mr. Bugas will focus on recruitment and the strategic positioning of the firm's European franchise. Bear, Stearns International Limited (BSIL BSIL Blue Screen Infinite Loop ) is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of The Bear Stearns Companies Inc. BSIL currently employs over 600 employees in London who serve corporations, institutions and private investors in Continental Europe, the United Kingdom and the Middle East. BSIL's capabilities include investment banking, institutional equities and fixed income sales, trading and research, derivatives, financial futures financial futures Obligations to buy or sell particular positions in financial instruments. The features of financial futures are identical to those of any futures contract except that the asset for delivery is of a financial nature. , foreign exchange and global clearing. 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 $23.2 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 professional and correspondent clearing, 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 more than 10,200 employees located in domestic offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, San Francisco and San Juan; and an international presence in Beijing, Buenos Aires, Dublin, Hong Kong, London, Lugano, Sao Paulo, Shanghai, Singapore and Tokyo. For additional information about Bear Stearns, please visit our Website at http://www.bearstearns.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion