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 While an unknown number of Wall Streeters dust off their resumes, former Bear Stearns Cos. CEO Alan Schwartz sits secure knowing he has at least one option on the table. So what's a dealmaker to do in such circumstances? Take a vacation, says the New York Post.
The former Bear Stearns dealmaker will soon have to make up his mind about joining J.P. Morgan Chase & Co., which acquired Bear Stearns, or jump ship perhaps to the venerable private equity firm Kohlberg Kravis Roberts & Co., according to the Post story. Schwartz reportedly was offered a vice chairman position at J.P. Morgan, but there has been no word on whether he has accepted the position leading to the speculation of other offers. The New York Post is leading the charge with a report that Schwartz may be in conversations with several private equity firms including KKR, the only firm named by the tabloid. Schwartz is a highly regarded dealmaker, and like many dealmakers who at the moment are facing unemployment, may seek a new career outside of banking -- private equity firms and hedge funds are the favorites of most unemployed dealmakers. However, if the Post is correct, we'll have to wait until after Labor Day to learn where Schwartz is heading. - Maria Woehr
See Corporate Dealmaker: From laid-off i-banker to corporate dealmaker? Categories Deal Video
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