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  • Bear Stearns: Where are they now?
  • Lazard advises InBev as A-B storm brews
  • Wilmer helps glue Staples-Corporate Express
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Bear Stearns: Where are they now?

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From Bear to J.P. Morgan: Fred Turpin Jr.

Bear Stearns Cos. had 14,000 employees, including 98 senior managing directors, when it imploded on March 14. Since then, the firm's new owner, J.P. Morgan Chase & Co., has extended job offers to 6,000 ex-Bear staffers, including 38 senior managing directors. Of that senior group, about 20 have joined J.P. Morgan.

"There aren't many of us," says one ex-Bear banker who landed at the firm's new owner.

Indeed, about 10% of Bear's roughly 600 investment bankers were recruited by J.P. Morgan. That group includes Bear's investment banking co-head Jeff Urwin, who snagged the plum job of J.P. Morgan's head of investment banking in the Americas, and Fred Turpin Jr., a Bear senior managing director for IT and telecom who now boasts that title at J.P. Morgan in Dallas and New York. Meanwhile, former Bear CEO Alan Schwartz is reportedly deciding whether to join his old firm's new owner as a vice chairman or sign on with a private equity firm.

Bear bankers who didn't receive job offers from J.P. Morgan were given a severance package equal to 25% of last year's bonus. "At the end of the day, they were buying us, and they did a good job," says one former Bear banker. "It's hard when you have this many people and so many who will end up displaced."

But many of the displaced are not only surviving, but thriving. "Most of the people have been able to find something of a comparable level and salary, too," says Tony Brown, an executive recruiter for Whitney Group who is also a former global head of staffing at Bear Stearns. "Many of the Bear Stearns people are landing at very large firms and found attractive jobs."

After J.P. Morgan, which declined to comment for this story, Bank of America Corp. has been a top recruiter of Bear talent, along with a melting pot of big Wall Street firms, hedge funds, private equity funds and boutiques. While there are no official numbers tracking ex-Bear bankers, Movers & Shakers has located more than 100 members of the Bear diaspora who are now gainfully employed on Wall Street. Here they are, in alphabetical order, with their old titles at Bear and their new jobs.

Ben Adams

Bear senior managing director, healthcare;

managing director, healthcare coverage, Barclays Capital

Lawrence Alletto

Bear senior managing director;

senior managing director, J.P. Morgan

Orman Anderson

Bear managing director;

executive director, J.P. Morgan

John Andrews

Bear managing director;

managing director, CIT Commercial & Industrial

Sandy Ayer

Bear senior managing director, industrial products;

managing director, J.P. Morgan

Jerry Bailey

Bear Stearns Merchant Banking senior advisory director/financial technology sector;
executive vice president of finance and operations, Halcyon Asset Management LLC

Lisbeth Barron

Bear senior managing director, entertainment and media;
partner, Centerview Partners LLC

David Baxt
Bear senior managing director and co-head of aerospace and defense;

head of aerospace and defense banking, Jefferies Quarterdeck

Nick Bell

Bear managing director/head of European media research;
Jefferies International

Davies Beller

Bear managing director, media;

managing director, Bank of America Corp.

Adam Blackman

Bear co-head of business and technology services;

managing director, Bank of America Corp.

Denis Bovin

Bear senior managing director;

launching an advisory boutique with Mike Urfirer

Rae Boylan

Bear managing director/not-for-profit healthcare;

managing director, municipal finance healthcare, RBC Capital Markets

Mark Brown

Bear research analyst;

senior research analyst, oil-field services, Pritchard Capital Partners LLC

Philip Cedar

Bear senior managing director/legal department and group practice leader for the mortgage and asset-backed securities division;

partner, financial services practice, K&L Gates LLP

Daniel Celentano

Bear senior managing director/head of financial restructuring;

senior managing director, Evercore Partners Inc.

David Cheng

Bear senior managing director/head of corporate finance in Asia;

head of corporate finance for the Greater China region, Credit Suisse Group

Stephen Clark

Bear senior managing director/natural resources;

managing director,
J.P. Morgan, Dallas

Kathy Costine

Bear managing director/not-for-profit healthcare;

managing director, municipal finance healthcare, RBC Capital Markets

John Crawford

Bear managing director/technology;

principal, technology, Bank of America Corp.

Richard Crescenzo

Bear senior managing director/fixed income;

managing director and co-head of investment-grade sales, Broadpoint Capital Inc.

Jonathan Dann

Bear head of European telecoms equity research; J.P. Morgan

Andrew Decker

Bear senior managing director/chairman of the global telecom group;

managing director, telecom, Merrill Lynch & Co.

Raj Denhoy

Bear healthcare sector specialist;

director in research, Thomas Weisel Partners Group Inc.

Mark DeRocco

Bear senior managing director/strategic finance;

managing director, J.P. Morgan

Charlie Diao

Bear senior managing director and group head of special situations credit;

launched M&A advisory firm Diao & Co. LLC and private investment fund management firm Diao Capital Management LLC

Michael Driscoll

Bear senior managing director/trading desk;

head trader, Geosphere Capital Management LLC

Noel Dunn

Bear senior managing director/metals and mining;

managing director, metals and mining, J.P. Morgan

Charles Edelman

Bear senior managing director/M&A;

managing director, M&A, J.P. Morgan

Scott Eichel

Bear co-head of asset- and mortgage-backed securities trading;

Royal Bank of Scotland Group plc

Jim Ferency

Bear senior managing director, M&A;

managing director, J.P. Morgan

Thomas Flexner

Bear vice chairman, commercial real estate;

global head of real estate, Citigroup Inc.

Steve Frank

Bear senior managing director, co-head of healthcare;

managing director, healthcare, J.P. Morgan.

Eric Friel

Bear managing director;

distressed debt team, Tudor Investment Corp.

John Geissinger

Bear Stearns Asset Management senior executive;

chief risk officer, Natsource LLC

David Glaser

Bear co-head of investment banking;

chairman of global mergers and acquisitions, Bank of America Corp.

Mark Goldstein

Bear senior managing director, co-head of European investment banking, head of European acquisition finance;

managing director, J.P. Morgan

R. Scott Graham

Bear managing director, senior equity analyst;

managing director, Ladenburg Thalmann Financial Services Inc.

David Granville-Smith

Bear senior managing director, strategic finance;

managing director, technology, media and telecom, J.P. Morgan

Thomas Greenlee

Bear vice president;

director, Merrill Lynch & Co.

Verne Grinstead

Bear senior managing director/head of capital markets;

managing director, equity capital markets, J.P. Morgan Cazenove Ltd.

Jason Gurda

Bear equity research analyst;

director, healthcare facilities, Leerink Swann LLC

Tom Hagerstrom

Bear senior managing director/structured products;

managing director/structured products, J.P. Morgan

Gregory Hanley

Bear senior managing director/co-head of distressed debt;

distressed debt team, Tudor Investment Corp.

Alexandra Hauber

Bear managing director, head of pharmaceuticals equity research;

J.P. Morgan

Francie Heller

Bear senior managing director/head of pension, endowment and foundation services;

managing director, client relations, Chilton Investment Co.

Lonny Henry

Bear senior managing director, real estate;

managing director, real estate, J.P. Morgan

John Howard

Bear Stearns Merchant Banking Group CEO;

the private equity arm will spin off from J.P. Morgan

Michael Hyatt

Bear senior managing director;

joining John Howard at Bear Stearns Merchant Banking Group, which will spin off from J.P. Morgan

Robert Irwin

Bear senior managing director, global transportation, logistics and supply-chain software;

managing director, J.P. Morgan

Robyn Karnauskas

Bear research analyst, biotech;

vice president and research analyst, Deutsche Bank AG

Brett Kaufman

Bear managing director, director of financial planning and analysis;

vice president and chief financial officer, Ladenburg Thalmann Financial Services Inc.

Jim Kern

Bear senior managing director; structured finance;

managing director, structured finance, J.P. Morgan

Evan Kerr

Bear Stearns Asset Management managing director;

head of marketing and product development, Natsource Asset Management LLC

Jeffrey Lane

Bear chairman and CEO of asset management;

CEO, Modern Bank NA

Marc Layne

Bear managing director, technology, media and telecom;

executive director, technology, media and telecom, J.P. Morgan

Louis Lebedin

Bear co-head of prime brokerage;

head of equity prime brokerage, J.P. Morgan

Yves Leysen

Bear managing director, head of fixed income;

plans to launch his own shop

Jonathan Lieberman

Bear senior managing director, mortgages;

managing director, residential mortgages, Angelo Gordon & Co.

Bruce Lisman

Bear co-head of global equities;

chairman of global equities, J.P. Morgan

Steven Lipman

Bear managing director, financial sponsors;

managing director, Bank of America Corp.

Nelson Luria

Bear managing director, not-for-profit healthcare;

managing director, municipal finance, healthcare, RBC Capital Markets

Hamish MacLellan

Bear senior managing director, equity trading;

head of European equity trading, Jefferies International

Rajiv Malik

Bear Southeast Asia economist;

Southeast Asia economist, Macquarie Bank Ltd.

Jeff Mayer

Bear senior managing director, fixed income;

offered and turned down the position of vice chairman, J.P. Morgan

Fred McConkey

Bear managing director, healthcare and financial sponsors;

managing director, healthcare and financial sponsors, Bank of America Corp.

W. Patrick McMullan III

Bear senior managing director, co-head of healthcare investment banking;

managing director, head of healthcare, Barclays Capital

A. J. Mediratta

Bear senior managing director, head of international debt capital markets;

senior managing director, Greylock Capital Management LLC

Eric Menell

Bear managing director, media;

executive director, media, J.P. Morgan

Steven Meyer

Bear co-head of equity;

deputy head of global cash equity and prime services, J.P. Morgan

Alan Mintz

Bear co-head, distressed debt group;

distressed debt team, Tudor Investment Corp.

Peeyush Misra

Bear mortgage derivatives trader;

managing director, Goldman, Sachs & Co.

Tom Monaghan

Bear senior managing director, healthcare;

managing director, healthcare, J.P. Morgan

John Moore

Bear Asia chief;

head of sovereign wealth group coverage, J.P. Morgan, Hong Kong

Jim Nish

Bear senior managing director, head of global industrial group;

managing director, J.P. Morgan

Howard Norowitz

Bear managing director;

distressed debt team, Tudor Investment Corp.

Fares Noujaim

Bear vice chairman;

president, Middle East and North Africa, and global head of sovereign wealth funds, Merrill Lynch & Co.

Mike O'Donovan

Bear senior managing director, equity link capital markets;

managing director, J.P. Morgan

James O'Shaughnessy

Bear Stearns Asset Management, head of systematic equities;

founder, O'Shaughnessy Asset Management LLC. Includes five Bear managers

Craig Overlander

Bear senior managing director, head of fixed-income sales;

offered and turned down position of vice chairman, J.P. Morgan

George Passaris

Bear senior managing director, collateralized loans and collateralized debt obligations in Europe;

managing director and product manager, Pramerica Fixed Income Management

Michel Péretié

head of Bear Stearns International in Europe;

head of investment banking, Société Générale

Glen Reidman

Bear senior managing director, industrial products;

managing director, J.P. Morgan

Tony Rizzuto

Bear senior managing director;

managing director, equity research, global metals and mining sector, Dahlman Rose & Co. LLC, along with Bear analysts Daniel Whalen and Anthony Young

John Ryan


Bear trader;

vice president, Goldman, Sachs & Co.

Robert Sage

Bear managing director, European banking equity research;

Macquarie Bank Ltd.

Ross Sakamoto

Bear managing director, U.S. program sales and trading;

director and senior product specialist for quantitative strategies, Deutsche Bank AG's DB Advisors unit

Douglas Scales

Bear senior managing director, fixed income;

managing director and co-head, investment-grade sales, Broadpoint Capital Inc.

Mark Schoenebaum

Bear senior managing director, biotech analyst;

managing director and senior research analyst, Deutsche Bank Securities Inc.

Carsten Schwarting

Bear trader;

vice president, Goldman, Sachs & Co.

Jeffrey Seaman

Bear senior managing director, financial sponsors group;

managing director, financial sponsors, Robert W. Baird
& Co.

Frank Sellman

Bear managing director, financial sponsors;

managing director, Moelis
& Co.

Greg Shaia

Bear senior managing director, head of retail and apparel investment banking;

managing director, head of consumer and retail, Moelis & Co.

Frederick Shaw

Bear Stearns Asset Management associate director;

chief compliance officer, Natsource LLC

Kenneth Shea

Bear senior managing director, gaming;

managing director, J.P. Morgan

Andrew Shortland

Bear senior managing director, equity trading;

head of European equities, Jefferies International

Michael Solender

Bear chief legal officer and general counsel;

executive vice president and chief legal officer, Washington Mutual Inc.

Stephen Straty

Bear senior managing director, head of natural resources in Dallas;

co-head of energy investment banking energy, Jefferies & Co.

David Strumeyer

Bear senior managing director and chief operating officer, legal and compliance;

executive director and resident, Weil, Gotshal & Manges LLP

Ron Suber

Bear senior managing director/manager, global clearing sales;

senior partner, head of global sales and marketing, Merlin Securities LLC

Mitchell Sussman

Bear managing director, distressed debt;

Tudor Investment Corp.

Cary Thompson

Bear senior managing director, head of West Coast corporate finance;

head of West Coast corporate finance, Bank of America Corp.

Fred Turpin Jr.

Bear senior managing director/IT and telecom;

senior managing director, J.P. Morgan

John Tyers

Bear co-head of broker-dealer and investment adviser services;

president of Broadcourt, Merrill Lynch & Co.'s clearing service

Mike Urfirer

Bear senior managing director;

launching an advisory boutique with Denis Bovin

Jeff Urwin

Bear co-head of investment banking;

head of investment banking in the Americas, J.P. Morgan

Jeffrey Verschleiser

Bear head of mortgage trading;

mortgage department, Goldman, Sachs & Co.

Ken Viellieu

Bear senior managing director, head of Midwest investment banking;

managing director and head of Chicago office, Moelis & Co.

Spencer Wang

Bear senior analyst, entertainment and cable, satellite TV;

managing director and senior media and Internet analyst, Credit Suisse Group

Joshua Weintraub

Bear senior managing director, global mortgage operations;

elected to board of Residential Capital LLC

Richard Werner

Bear Stearns Asset Management fund manager;

launched Providence Asset Management in the U.K.

Thomas Widener

Bear senior managing director, global head of power and utilities;

managing director and vice chairman, natural resources group, Deutsche Bank Securities Inc.

Frank Williams

Bear senior managing director/healthcare;

managing director, healthcare coverage, Barclays Capital

Frederick Wise

Bear senior managing director, medical supplies and devices analyst;

managing director, medical supplies and devices sector, Leerink Swann LLC

Penn Wyrough

Bear senior managing director;

managing director, J.P. Morgan

George Zahringer III

Bear senior managing director;

managing director and client adviser, Deutsche Bank Private Wealth Management

Whereabouts unknown: Sanjiv Sobti, senior managing director, financial institutions; Ulman Anderson, managing director; Andrew Decker, senior managing director; Michael Kim, managing director; Paul Abecassis, European chairman; Florian Lahnstein, co-head of European investment banking; Stephen Davidson, senior managing director, telecoms, in London; Richard Strang, senior managing director, head of international telecoms in London; Michael Yagemann, senior managing director, co-head of media and entertainment; Jonathan Golub, senior managing director and chief investment strategist; Lee Stettner, global head of equity capital markets; Nicolo Brandolini d'Adda, co-head of European equities; Vincent Van Pelt, co-head of European equities; Michael Nierenberg, head of mortgage trading; Michael Kim, managing director; Henry Tsang, Bear senior managing director in Asia; and Donald Tsang, Bear vice chairman in Asia.

Select a different week:Deal Diary, and Movers & Shakers 11/17Deal Diary, and Movers & Shakers 11/2Deal Diary and Movers & Shakers 10/19Deal Diary and Movers & Shakers 10/5BofA's CEO succession planmore
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