(Bloomberg) -- Bear Stearns Cos. ousted Co-President
Warren Spector after credit-market losses and eroding investor
confidence increased pressure for management changes at the
second-largest underwriter of securities tied to the slumping
U.S. housing market.
The board of the nation's fifth-biggest securities firm
agreed today that Alan D. Schwartz, 57, will become sole
president, the company said in a statement. Spector, 49, was
responsible for fixed income and asset management and was viewed
by analysts as the top candidate to succeed 73-year-old Chief
Executive Officer James E. Cayne.
Read more at Bloomberg Bonds News
Warren Spector after credit-market losses and eroding investor
confidence increased pressure for management changes at the
second-largest underwriter of securities tied to the slumping
U.S. housing market.
The board of the nation's fifth-biggest securities firm
agreed today that Alan D. Schwartz, 57, will become sole
president, the company said in a statement. Spector, 49, was
responsible for fixed income and asset management and was viewed
by analysts as the top candidate to succeed 73-year-old Chief
Executive Officer James E. Cayne.
Read more at Bloomberg Bonds News
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