Bear Stearns opens representative office in Singapore.NEW YORK--(BUSINESS WIRE)--Nov. 2, 1994--Bear, Stearns & Co. Inc. announced today that the Monetary Authority of Singapore The Monetary Authority of Singapore (Abbreviation: MAS; Chinese: 新加坡金融管理局; Malay: Penguasa Kewangan Singapura) is Singapore's central bank. has granted a dealer's license to Bear Stearns Pte. Limited. Tan Kok Wee, senior managing director, will be head of the new office. Mr. Tan recently joined Bear Stearns from C.S. First Boston Inc. where he was a managing director responsible for that firm's Singapore operations. Mr. Tan brings over 15 years of investment banking experience to Bear Stearns. The Singapore office will be Bear Stearns' fifth office in Asia, where the firm currently has offices in Beijing, Hong Kong, Shanghai and Tokyo. The firm also has joint ventures in Pakistan and the Philippines. James E. Cayne, president and chief executive officer of Bear Stearns, stated, "Our ability to open an office in Singapore represents our continued increasing commitment to Asia. There is tremendous potential in the region and our Singapore office will be the key to gaining access to the rapidly growing markets of South East Asia." Initially, the Singapore office will be engaged in sales of fixed income and related securities, including derivatives, to institutional clients. Over time, Bear Stearns intends to apply for a merchant banking license to provide investment banking and other financial services. Bear Stearns has been involved in the most significant transactions in Asia over the past 18 months, including those for Bank of China, China International Trust and Investment Corporation, Ek Chor China Motorcycle Co. Ltd., Guangdong Enterprise, Guangdong International Trust and Investment Corporation, People's Republic of China, PT Pabrik Tjiwi Kimia, Shanghai Sanmao Textile, Shanghai Phoenix Bicycle, Shanghai Tyre and Rubber, Subic Power Corp., TelecomAsia Corporation Public Company Limited and Tsingtao Brewery Company Limited. 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., a 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. listed company (NYSE NYSE See: New York Stock Exchange :BSC (Binary Synchronous Communications) See bisync. ). With approximately $5.7 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, asset management, correspondent clearing, 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. 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 over 7,600 employees located in domestic offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, San Francisco and Washington, D.C.; and an international presence in Beijing, Buenos Aires, Frankfurt, 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, Karachi, London, Madrid, Manila, Paris, Sao Paulo, Shanghai and Tokyo. CONTACT: Bear, Stearns & Co., 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 Hannah Burns, 212/272-2395 |
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