Philippe Hatstadt Joins Bear Stearns as Head Credit Derivatives Trader in New York.Business Editors NEW YORK--(BUSINESS WIRE)--March 13, 2000 Bear, Stearns & Co. Inc. announced today that Philippe Hatstadt has joined the firm as a managing director in the Global Derivatives Department. Based in 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 , he will be responsible for the trading, structuring and risk management of credit derivative Credit Derivative Privately held negotiable bilateral contracts that allow users to manage their exposure to credit risk. Credit derivatives are financial assets like forward contracts, swaps, and options for which the price is driven by the credit risk of economic agents (private products for the Americas region. Mr. Hatstadt comes to Bear Stearns from CIBC CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company , where he was a managing director and head of credit derivative trading. During his five-year tenure at that firm, he also traded interest rate options and exotics. Previously he was with Lehman Brothers in New York and Paris where he focused on interest rate options and exotics trading and risk management. Mr. Hatstadt holds an MS in engineering from Superior School of Civil Engineering in Paris, and an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from the University of San Francisco • • [ . Bear Stearns' Global Derivatives Department provides a comprehensive global capability in derivatives and structured transactions. It specializes in individually negotiated over-the-counter contracts involving interest rates, currencies, equities, credit and mortgages. The department is uniquely organized across asset classes to allow for one-stop shopping across a wide variety of products, including interest rate and currency swaps and options, credit derivatives, equity swaps and options, municipal derivatives, asset-backed and mortgage-backed derivatives, asset swaps, structured notes and structured products. In addition, the department provides execution capabilities in listed equity and index options. The department also works on public warrant issues, as well as on structured finance products that combine derivatives with debt or equity issues (e.g., an equity-linked note or an index-amortizing note). Founded in 1923, Bear, Stearns & Co. Inc. is a leading worldwide investment banking and securities trading and brokerage firm, and the major subsidiary of The Bear Stearns Companies Inc. (NYSE NYSE See: New York Stock Exchange :BSC (Binary Synchronous Communications) See bisync. ). With approximately $22.2 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, 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. 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 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 Web site at http://www.bearstearns.com. |
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