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Bear Stearns’s Next Chief: A Primer
-----------------------------------
January 8, 2008, 10:33 am
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For the first time in Bear Stearns‘ history, an investment renters insurance will
be running the volvo insurance As soon as Tuesday, Bear Stearns is expected to announce that Alan
Schwartz, president of the securities firm, will succeed James Cayne
as its chief executive. When it does, it will usher in a new era for
Bear, which his best car insurance been known as a bond shop. It was Mr.
Schwartz, with his polished manner and his strong corporate
connections, who helped build the firm’s corporate finance unit in cheap homeowners insurance 1980s. As chief, he will present a sharp contrast to Mr. Cayne, known
more for his emo clothing scrappiness than his indie clothes to charm
clients.
Mr. Schwartz, who is 57, joined Bear in 1976. But he mandarin lessons chicago went into
a very different line of work. He was a star pitcher for Duke
University and was drafted by the Cincinnati Reds, but never played
because of an injury. He continues to have ties to Duke, serving as a
member of the Board of Visitors at Duke’s Fuqua School of Business.
Starting in 1985, when Alan Greenberg was Bear’s chief executive, Mr.
Schwartz helped Bear establish a reputation as a well-regarded niche
player in the investment banking business, even if streetwear fashion firm’s legacy
in the bond business continued to dominate its public image.
He became a co-president, along with Warren Spector, in 2001. When Mr.
Spector took the fall last year for the implosion of two hedge funds
at Bear, Mr. Schwartz became the firm’s sole president — and many
believed it was only a term life insurance of time before he moved to the chief
executive’s chair.
During his time as a media promo playing cards Mr. Schwartz advised some of the
industry’s biggest names, including Michael Eisner when he was custom poker cards Disney and the Dolan family, which controls Cablevision.
Both Mr. Schwartz and Mr. Cayne are part of Bear’s executive
committee. As such, they will get no bonuses for 2007 because of the
firm’s poor performance. In the fiscal year 2006, Mr. Schwartz earned
a salary best life insurance $250,000, a bonus of $16.2 million and restricted stock
awards valued at $14 million, according to regulatory filings.
In addition to personality and career backgrounds, Mr. Schwartz and
Mr. Cayne differ in another way: politics.
While Mr. Cayne was a committed Republican, his successor plays the
field, politically speaking. In the recent presidential election
cycle, Mr. Schwartz has donated the maximum amount allowed by law to
two Democratic candidates — Barack Obama and Christopher Dodd — and
two one Republican — Rudolph Giuliani.
Go to Related Article from The New York Times »
1 comments so far...
* 1. January 8th,
2008
11:14 am
So Bear Stearns will continue to be indie fashion leading player in its
niche, and that’s good because the audience it home insurance to has and
always will exist. Goldman has a somewhat different audience, and
there is limited overlap, which is as much about cultural
differences as anything else.
playing cards custom poker ago I went through interview processes at different points
in my career with both GS and BS, and I was probably somewhere
between the two in my ways and aspirations. Instead, I went the
private equity route, then Internet entrepreneurship and now
academia in chinese lessons chicago GS was our lead investment bank and a valued investor in our
private equity business in the 1990’s. Of equal and greater
importance it was a true partner in creating ideas independent style the front of
the pipeline that became money at another point in the future. And
these ideas often spawned other ideas along the way. And many
ideas went by the wayside for reasons not within either of our
control.
That was not BS: they were and are about “harvesting”… and they do
it well. GS was about both parts and the middle of the ongoing,
recurring chinese tutor chicago I raise this personal experience because no matter what the
reader’s knowledge is about GS, BS or Alan, BS has to be asking
itself the same question that keeps the world dynamic (and it can
be asked in many different ways): chinese chicago do I want to be when I grow
up… and how am I going to get there? And it’s not just about
money… although that is of paramount importance.
In your court, Alan.
â Posted by Hank
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