Former Bear Stearns Cos. CEO Alan Schwartz joined privately held financial services firm Guggenheim Partners LLC as executive chairman. Schwartz chose not to stay with J.P. Morgan Chase & Co. after it took over Bear. He joined Bear Stearns in 1976 as head of institutional equity sales in Dallas. He has been head of investment banking and was co-president from 2001 to August 2007, and president and chief operating officer from August 2007 until he became CEO in January 2008.
Guggenheim, based in New York and Chicago with 800 employees, offers investment management, investment advisory, investment banking and capital markets services. Schwartz said in a statement, "As part of my role I will focus on transforming Guggenheim's existing broker-dealer, which is focused on sales and trading of fixed income securities, into a full-service investment banking enterprise."
Credit Suisse Group created an investment strategies and
solutions group in its asset management division, which will work in
tandem with asset management's global institutional distribution team.
David Russ, former chief investment officer of Dartmouth
College's office of investments, was named managing director and chief
investment strategist of the group. The new group also includes
managing director Mark Baumgartner, former senior portfolio strategist and head of portfolio architecture at Morgan Stanley; managing director Yogi Thambiah, former head of Credit Suisse's U.S. multi asset class solutions business within asset management; and director Nicolo Foscari, former senior portfolio manager in the multiasset class solutions business.
Check The Deal Pipeline for updates on these Movers & shakers:
- Morgan Keegan & Co. said Spectrum Capital Group became part of its investment banking group.
- RBC Capital Markets Corp. appointed Kurt Hallead and Greg Pardy as co-heads of global energy research.
- CIBC World Markets Inc. hired Citigroup Inc.'s Michael Rosborough as an executive director in London.
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