JPM keeping Bear Stearns Fixed Income Heads
Read the full article: http://www.bloomberg.com/apps/news?pid=20601087&sid=auxbTwgo...
JPMorgan Chase & Co. plans to keep the co-heads of fixed income at Bear Stearns Cos., the first senior posts given to executives from the failed New York securities firm since its rescue three weeks ago.
Bear Stearns's Jeff Mayer and Craig Overlander will be vice-chairmen of the investment bank, according to an internal memo distributed yesterday. Don McCree, head of fixed income at New York-based JPMorgan, is becoming executive vice president for treasury, corporate finance and corporate acquisitions.
JPMorgan Chief Executive Officer Jamie Dimon is trying to retain top talent at Bear Stearns by offering cash and stock bonuses to the best performers at the company, which got half its revenue from fixed-income units.
- Login or register to post comments
- Email this page
I've heard investment
I've heard investment banking at BSC already rescinded their offers to new grads. I assume that means that the rest of the old advisory group at BSC is likely gone with the exception of their Gaming industry group which I heard has some connections with Harrah's that are probably quite useful to JPM.
Aren't they laying off 50%
Aren't they laying off 50% of the staff? Who do you think will get the shaft first?
Granted it was the Bear
Granted it was the Bear Stearns mortgage desk (under the fixed income department) that ultimately brought about Bear Stearns' demise. But, you can't discount the fact that these guys for the decade leading up to the last six to eight months were the best on the street at what they did. I think J.P. Morgan is really get a steal out of this deal and it's good to see that they are doing their best to retain the talent and knowledge that Bear Stearns has to offer.