Bear Stearns exodus

It has been widely reported that 10,000 of the 14,000 folks employed by Bear Stearns Cos. ahead of the bank's sale to J.P. Morgan Chase & Co. took their leave, were sent packing or would be let go soon. (See Dealwatches Pink slips on the Street and J.P. Morgan-Bear Stearns for more on both of these topics.) Here's a compilation of all the publicly announced Bear departures of late, from bankers to advisers to wealth managers and lawyers. (Note: The dates signal The Deal's coverage, not necessarily the dates of the moves.)

June 17: New York broker-dealer Guggenheim Capital Markets LLC launched a financial institutions group. It hired Frank McCutchan and Scott Schondau as managing directors of the group, based in Dallas. McCutchan and Schondau worked together for the past 10 years, focused on the community banking sector. They were managing directors at Bear, where they established the pooled trust preferred and subordinated debt program and headed the origination platform out of Dallas.

June 12: Broker dealer BTIG LLC expanded its fixed income, hiring Todd Sycoff as a high yield trader in New York. Sycoff previously worked at Bear, Stearns & Co. He spent a combined 16 years with Bear and Merrill Lynch & Co.

June 3: ING Investment Management Americas hired Jonathan Golub as chief market strategist. Golub will be part of the investment solutions group, reporting to Paul Zemksy, head of asset allocation and multi-manager investments. Golub was most recently chief investment strategist at Bear, Stearns & Co.

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JUST LIKE STARTING OVER

May 27: Jefferies & Co. grew its high yield, leveraged loans, distressed and special situations sales, trading and research groups. Following the addition of Robert Harteveldt, a 24-year Bear, Stearns & Co. veteran, as chairman of fixed income in July 2008, Jefferies has hired nine sales professionals, one trader and seven research analysts, expanding the distribution team to nearly 50 people.

In high yield and distressed debt sales, former Bear Stearns bankers that joined J.P. Morgan Chase & Co., Danielle Bar-Illan and Richard Wright, have arrived. The sales team for performing and non-performing bank loans now totals five professionals, including former Bear Stearns banker Richard Furlong who joined from J.P. Morgan. In special situations, five hires were made. Spencer Alstodt joined the firm from Bear Stearns, where he focused on capital markets transactions.

April 23: Dahlman Rose & Co. LLC appointed Elliott Etheredge as a managing director and head of its marine transportation investment banking group. In 1999, Etheredge joined Bear, Stearns & Co. as a member of the aerospace and defense team before joining its transportation and logistics group, where he was a managing director. After J.P. Morgan Chase & Co.'s acquisition of Bear Stearns, Etheredge was named head of the bank's maritime investment banking group.

April 21: In New York, Jefferies & Co. hired Roy Carlberg as a managing director and head of syndicate in the firm's municipal securities group. Carlberg was most recently a senior managing director at Bear, Stearns & Co., where he managed its municipal securities syndicate effort.

March 27: Houlihan, Lokey, Howard & Zukin Inc. hired Paul Sanabria and Jeff Hammer as managing directors to focus on the secondary market for partnerships and private investments held by institutional investors. Previously, they were senior managing directors at Bear, Stearns & Co.

March 23: Ex-Bear execs launch investment bank: Wall Street veterans Denis Bovin and Michael Urfirer launched Stone Key Partners LLC, an investment bank specializing in mergers and acquisitions and strategic advisory services. Bovin and Urfirer are co-chairmen and co-CEOs of Stone Key. Bovin was previously vice chairman of investment banking and chairman of the global technology, media and telecom group at Bear Stearns Cos. Urfirer was a vice chairman of investment banking and the global head of strategic advisory banking at Bear.

Feb. 2: Dechert LLP hired Kenneth Masotti in New York as counsel in the corporate and securities group. Masotti was previously a senior managing director at Bear, Stearns & Co.

Jan. 28: Broker-dealer Broadpoint Capital Inc. grew its mortgage- and asset-backed security trading division, Broadpoint DESCAP, by launching a new repurchase desk and expanding its structured products group with five people. The repurchase desk will be led by Joanmarie Pusateri, who spent 22 years at Bear, Stearns & Co., focusing on fixed income trade settlements.

Jan. 16: Former Bear Stearns Cos. executive Dominick Petrosino joined Moelis & Co. as a managing director providing capital raising advice, resident in New York. At Bear, Petrosino was head of leveraged finance capital markets.

Dec. 17: Privately held merchant bank Tri-Artisan Partners LLC hired Thomas Harney as a managing director, head of real estate. Harney spent 11 years at Bear, Stearns & Co., where he was a senior managing director of the real estate, gaming, lodging and leisure investment banking group and co-head of real estate investment banking.

Dec. 4: Joel Schneider recently joined Piper Jaffray & Co.'s equity capital markets group as a managing director in New York. Earlier, Schneider was a senior managing director in Bear Stearns Cos.' ECM group.

Nov. 18: Morgan Keegan & Co. hired nine municipal banking, sales and trading professionals in New York and Boston. Among them, senior vice president Chris Durso is a municipal trader and a 23-year veteran of Bear Stearns Cos. Bear Stearns' Garrett Ferris was tapped as a vice president in municipal sale.

Nov. 4: Bear Stearns risk officer now handling risk at N.Y. Fed Former Bear Stearns Cos. chief risk officer Michael Alix was named a senior vice president in the bank supervision group of the Federal Reserve Bank of New York. He is a senior adviser to William Rutledge, executive vice president, bank supervision group. Most recently, Alix worked at now defunct Bear Stearns, where he was chief risk officer from 2006 to 2008 and global head of credit risk management from 1996 to 2006

Oct. 30: Middle-market cross-border investment bank C.W. Downer & Co. hired Ruta Jureviciute as a director in Boston. Jureviciute spent seven years at Bear Stearns in New York, most recently as a vice president in the financial sponsors group. She also worked in the mergers and acquisitions and healthcare groups. Prior to Bear, Jureviciute worked at Weil, Gotshal & Manges LLP and Ernst & Young.

Oct. 22: As is the trend among banks lately, Jefferies & Co. is expanding its fixed-income unit. Among senior managing directors hired is Perrin Arturi, head of agency pass through trading. Arturi was a senior managing director in the mortgage division of Bear Stearns, where he worked for 20 years.

Oct. 21: Jeffrey Greenip joined Jefferies as a managing director in the financial sponsors group of the investment banking division. Greenip will focus on private equity and other financial sponsor clients. He spent the last decade at Bear Stearns Cos. Before Bear, Greenip worked at ING Barings Furman Selz LLC.

Oct. 15: Credit Suisse Group announced that Steven Kwok and Sokho Jung joined Credit Suisse Private Equity Asia as managing directors overseeing activities in Greater China and South Korea, respectively. Kwok comes in from Bear Stearns Private Equity, where he was a senior managing director and head of the Eagle China Retail and Consumer Fund. Jung joins Credit Suisse from Standard Chartered Private Equity, where he was head of South Korea from 2002.

Meanwhile, former Bear Stearns banker Vincent Van Pelt reportedly joined Standard Chartered plc as global head of equity derivatives and commodities.

Sept. 30: Amherst Securities Group LP, a broker-dealer specializing in residential mortgage-backed securities, hired six senior-level sales and trading professionals. Among them is Konrad Kothmann who spent 19 years at Bear Stearns as a managing director of institutional fixed-income structured product sales.

In London, Piper Jaffray Ltd. hired two principals, one being Stuart Rankine, who was formerly a vice president at Bear Stearns International Ltd., where he focused on merger and acquisition advisory and debt and equity financing, primarily for medical technology clients.

Sept. 26: UBS appointed 19-year Bear Stearns veteran Jeffrey Mayer as joint global head of the fixed income, currencies and commodities business in its investment bank.

Mayer will work from New York and Stamford, Conn., and report to Jerker Johansson, chairman and CEO of UBS Investment Bank. Mayer will also join the investment bank executive committee and the UBS group managing board. Prior to becoming co-head of fixed income at Bear in 2002, Mayer headed the mortgage and asset-backed securities department.

Sept. 23: Nomura Holdings Inc. made five additions to the foreign exchange trading division of its global markets business. James Lamb joins as head of FX sales for London. Stephen Ware took a senior FX sales role. Kai Herbert and Sami Amara arrive as emerging market FX traders, and Lofti Bensassi joins as an emerging market FX derivatives trader. Herbert joins from Bank of America Corp., while the rest worked at Bear Stearns. Based in London, they report to Bernd Broeker, global head of emerging market FX and FX derivatives. The hires follow the recent appointment of Nicolas Gallet, from Bear Stearns in Singapore, as an emerging market FX spot and forward trader, covering South East Asian currencies.

Sept. 18: Adding to its financial services practice, Venable LLP tapped hedge fund and asset management attorney Julie Richard as a partner in New York. Richard served as counsel for Bear Stearns private client services and Bear Stearns Securities Corp.'s broker-dealer/investment adviser services units. She also counseled Bear Stearns Asset Management's fund of hedge fund family. Richard is the second former Bear asset management attorney to join Venable in as many months. Rory Cohen joined the New York office as a partner.

Sept. 15: In New York, Silverfern Group Inc. expanded its merchant banking team, hiring Edward Rimland as a managing director. Rimland was previously a senior managing director at Bear Stearns, where he was head of technology mergers and acquisitions. He also served as the TMT's group's chief operating officer for three years. Before Bear, Rimland spent five years in the M&A group at Morgan Stanley.

Sept. 12: Jefferies expanded its emerging markets fixed-income sales and trading unit. Leo Gazal, Mike Bellero and Ken Lockyer join as senior salespeople in New York, and John Gibbens as a senior trader in London. Gazal joins the firm from Goldman, Sachs & Co., where he was a vice president and managed Latin American corporate trading efforts. Lockyer and Bellero were senior vice presidents at Bear Stearns, where they spent 17 years and 7 years, respectively. Gibbens was a managing director and senior trader at ABN Amro NV.

Elsewhere, Crédit Agricole Cheuvreux, Crédit Agricole Group's European equity broker, opened an office in San Francisco. For its European equity sales staff in San Francisco, the firm hired David Basham as a managing director and Karen Linsky as a vice president. Both were most recently with Bear Stearns, where Basham was a senior managing director of equity sales and Linsky an associate director.

Meanwhile, Pali Holdings Inc. said Barbara Bishop joined the firm as general counsel, based in New York and reporting to chairman and CEO Brad Reifler and Joseph Schenk, chief operating officer. Bishop spent the last 23 years practicing at Bear Stearns, where she was a senior managing director in the legal and compliance department.

Sept. 10: America's Growth Capital hired Rex Sherry as a partner and co-head of West Coast investment banking. Before this, he was a senior managing director and head of West Coast technology banking for Bear Stearns. Previously, Sherry was vice chairman of technology investment banking and the global head of semiconductor investment banking for Merrill Lynch & Co.

Sept. 9: RBC Capital Markets appointed Scott Moskowitz to its global investment banking group. He joins as a managing director based in New York, reporting to Peter de Vos, head of U.S. investment banking. Moskowitz spent over 15 years with Bear Stearns, most recently as a senior managing director and global head of its technology, media and telecom group.

Meanwhile, David Boutry joined Deutsche Bank AG as a managing director in financial sponsors coverage Americas. Boutry was previously a senior managing director at Bear Stearns.

Sept. 5: Wachovia Securities LLC hired former Bear Stearns executive Craig Overlander as a managing director and global head of fixed income, effective Sept. 15. Overlander will report to Ben Williams, head of global markets and investment banking and will work from Charlotte, N.C., and New York. Overlander was most recently a managing director and co-head of fixed income at Bear Stearns, where he spent 26 years.

Elsewhere, Brown Rudnick LLP hired Sonya Van de Graaff as a partner in its bankruptcy and corporate restructuring group in the London. Prior to this, Van de Graaff was a managing director principal and solicitor with Bear, Stearns International Ltd. She works with hedge funds, corporations, investment banks and other financial institutions.

Sept. 3: RBC Capital Markets hired 11 bankers from Bear Stearns to form a new U.S. institutional equity sales and trading team, based in London and Switzerland. Tim Allen arrives as a managing director and head of U.S. institutional equity sales from Bear Stearns, where he spent the last 18 years, most recently as head of U.S. equity sales, Europe. Other bankers include Marc Doll, Allison Carr, Jean-Charles Cormier, Nicola Monzini, Stephan von Posern, Marko Krzywon and Aida Trabucco for London equity sales. Justin Freedman covers London sales trading; Roberto Bottani is a managing director of Swiss equity sales; and Renato Bianchini also handles Swiss equity sales.

Merrill Lynch said it hired Michael Nierenberg from J.P. Morgan to head global mortgages and securitized products businesses, and that James De Mare from Citigroup Inc. will run the company's mortgage trading operations. De Mare will report to Nierenberg, who will report to Thomas Montag, head of global sales and trading. Nierenberg was most recently J.P. Morgan's head of global securitized products, a post he took following the purchase of Bear Stearns Cos. earlier this year. Nierenberg joined Bear Stearns in 1994 and spent seven years at Lehman Brothers Inc. De Mare was with Citigroup for 11 years, most recently serving as global head of mortgage trading. Prior to joining Salomon Brothers in 1997, De Mare traded agency and nonagency adjustable rate mortgages at Bear Stearns and Prudential Securities Inc.

Jefferies International Ltd. beefed up its global equities business in a big way, hiring 25 equity sales, sales-trading, trading and research professionals formerly of Bear Stearns in London. Among those joining are Andrew Shortland as head of international equities, Hamish MacLellan as head of international equity sales and Omar Saad as head of international equity trading. Shortland spent 16 years at Bear Stearns, where he was a senior managing director, head of international equities trading and a member of the firm's management committee. Previously, he spent three years at Morgan Stanley in London and New York. MacLellan was a senior managing director at Bear, where he worked for 12 years. Saad spent five years at Bear and previously spent six years with ING in London and New York. Bell was most recently a senior managing director and head of European media research at Bear Stearns, where he spent 10 years. James Shuck was a vice president at Bear Stearns, where he spent seven years. Additionally, equity research analysts Nick Bell and James Shuck join Jefferies to cover the European media and insurance industries, respectively.

Meanwhile, Amherst Securities Group LP, a broker-dealer specializing in residential mortgage-backed securities, hired Laurie Zeller as senior managing director of trading. Zeller spent four years as a managing director for agency collateralized mortgage obligations at Bear Stearns. Prior to that, she worked at Fannie Mae for 12 years as director of portfolio management.

Aug 22: Bank of America Corp. made six hires for its foreign exchange platform. Three worked previously at Bear Stearns: Glenn Edelson, managing director and head of emerging markets sales,was global head of emerging markets sales with Bear; Daniel Sigler, principal and senior emerging markets trader, was head of local markets FX trading at Bear; and Simon Williams, principal in real money sales, is also a former Bear banker.

Elsewhere, Pali Capital Inc. expanded its equity team, adding three sales traders, including Thomas Pierini, who was a managing director principal at Bear Stearns.

Aug 14: Macquarie Capital Advisors added Morgan Edwards as a managing director in its debt structuring and advisory group. Previously, he was a managing director in the high-yield capital markets group at Bear Stearns.

Aug 12: Independent alternative investment firm Sorin Capital Management LLC hired Matt Chasin as chief operating officer, partner and member of the investment committee. Previously, Chasin was a senior managing director and head of repo financing activities for mortgage and structured products at Bear Stearns. Chasin was also a member of Bear Stearns' global finance committee.

Aug 8: UBS made six senior hires for its U.S. Equities business, including two from Bear Stearns. Former Bear senior managing directors Andre Dore and Nicholas Struk become executive directors and equity sales traders in Stamford.

Meanwhile, FBR Capital Markets Corp. announced three new managing directors in its investment banking division including Jorge Solares-Parkhurst, from Bear Stearns, who works on New York-based financial institutions team.

Aug 6: BTIG LLC, a broker dealer specializing in equity trading and brokerage services, appointed Kenneth Savio as a senior managing director and co-head of global equities. Savio joins after 20-plus years at Bear Stearns, where he was a senior managing director and co-head of global and sales trading. Savio will report to managing partners Steve Starker and Scott Kovalik.

Aug 1: Alan Schwartz, the former Bear CEO, was set to leave J.P. Morgan at the end of the summer, according to several reports. Where's he going? He has been talking to Goldman, Sachs & Co., Citigroup Inc., Centerview Partners LLC and Kohlberg Kravis Roberts & Co., DealBook reported, citing sources briefed on the matter. He was in early June said to be having second thoughts about joining the firm.

Meanwhile, among several other hires, Morgan Stanley tapped Thomas Wong to run proprietary trading and Eric Cole as co-head of distressed sales, trading and research. Both are one-time Bear bankers.

July 31: Guggenheim Partners LLC broker-dealer subsidiary Guggenheim Capital Markets LLC has added Scott Buchta to head its new investment strategies group. Previously, Buchta oversaw Bear Stearns' mortgage products group and served as a senior managing director in its portfolio strategies division. The new Guggenheim group will be based in Chicago.

July 30: Carl Icahn's Icahn Enterprises LP tapped Dominick Ragone as chief financial officer. He was the assistant controller for Bear Stearns and earlier, a managing director for Morgan Stanley. He had been a partner with PricewaterhouseCoopers LLP for 16 years.

July 29: Janney Montgomery Scott LLC expanded its capital markets team with four hires. Tom Kozolik was one; he will serve as vice president of public finance. He worked previously for Bear Stearns.

July 25: Broadpoint Capital Inc., a Broadpoint Securities Group Inc. broker-dealer subsidiary, announced three hires for its sales group. Michael Komson joins as managing director of high-yield sales. He worked previously for Bear Stearns, focusing among other things on high yield and distressed debt.

July 24: GMAC Financial Services tapped former Bear Stearns executive Thomas Marano to be chairman and CEO of its mortgage unit, Residential Capital LLC. Marano was named ResCap's nonexecutive chairman in April, and joined Cerberus Capital Management LP, which controls GMAC, as a managing director. Previously, he spent 25 years at Bear Stearns and was most recently a director and head of the firm's global mortgage trading and origination operations.

Meanwhile, Rory Cohen, a hedge fund and asset management attorney and former Bear Stearns managing director, has joined Venable as a partner. Earlier in his career, Cohen worked at Prudential Equity Group as a senior analyst. 

July 22: Barclays Capital again tapped into the talent pool of ex-Bear bankers, hiring Trace McCreary as a managing director and head of U.S. infrastructure finance. Based in New York, he reports to Rick Van Zijl, managing director and co-head of U.S. leveraged finance. McCreary was most recently a senior managing director in the global industries group at Bear Stearns. Previously, he worked at Credit Suisse Group and Citigroup.

July 21: Bear Stearns former senior managing director and global head of convertible trading, Michael Lloyd, recently joined FBR Capital as a senior managing director and head of convertible securities within the sales and trading division. Lloyd is launching the convertible securities unit with Paul Rosica, who joins from Bear Stearns. Rosica is a senior managing director and head of equity-linked capital markets in investment banking. In addition, Daniel Blood joined the firm as a senior managing director and head of debt capital markets. Blood served as co-head of global debt capital markets at Bear Stearns, where he worked for over 18 years.

July 17: Stephen Callahan joined Barclays Capital from Bear Stearns as a director, U.S. government bond trader, reporting to Ronti Pal, managing director and head of USD fixed-income linear rates trading.

Meanwhile, Jefferies & Co. enlisted Daniela Bar-Illan jas a senior high-yield and loan salesperson, and Richard Wright arrives as a senior salesperson for high-yield and distressed securities and loans. Both worked at Bear Stearns Cos., having spent 25 years and 13 years, respectively.

July 16: Bank of America made nine hires for its equity research platform. They include managing directors: Joseph Buckley, restaurants; Robert Hopkins, medical devices; and James Kissane, information technology services. Principal Suzanne Schiavelli covers specialty finance. Vice presidents include Kuni Chen, metals and mining; Kevin Fischbeck, healthcare facilities; Bryan Kraft, media, cable and entertainment; Brian Wright, managed care; and Brad Zelnick, applications software.

Buckley spent 23 years at Bear Stearns; Hopkins and Fischbeck were with Lehman Brothers Inc.; Kissane and Zelnick also hail from Bear; Schiavelli joins from Morgan Stanley; Chen worked at Hapoalim Securities USA; Kraft arrives from Credit Suisse Group; and Wright comes in from Jefferies & Co.

July 14: Former Bear trader Melissa Ko has formed a new hedge fund, Covepoint Capital, with nearly $1 billion in assets, Reuters reported.

Meanwhile, Katten Muchin Rosenman LLP said Gary Distell joined the firm as a partner in the financial services practice, based in New York. Distell was a previously a senior managing director in the legal department of Bear Stearns. Before that, Distell spent four years as an investigator in the NASD's market regulation department.

And MKP Capital Management LLC tapped three senior investment professionals, one of whom joins from Bear. Steven Gordon, managing director and portfolio manager, leads efforts in the commercial mortgage-backed securities market. Gordon spent 10 years at Bear Stearns, most recently as a managing director responsible for CMBS credit trading, CMBS derivatives and a joint CMBS venture with Bear's financing group.

July 11: John Fargis, a 14-year Bear Stearns veteran, was hired by Jefferies & Co. as a managing director to head the firm's U.S. media investment banking practice. He is based in New York. Fargis was most recently a senior managing director in Bear's media investment banking group.

July 10: Dahlman Rose & Co. LLC, an investment bank covering the natural resource supply chain sectors, enlisted James Manfredonia as a managing director and head of equities. Manfredonia was a senior managing director at Bear Stearns, where he was responsible for the cash trading desk and other asset management functions. He also spent a decade with Merrill Lynch & Co.

July 9: In London, J.P. Morgan Private Bank drafted Darren McDermott for its U.K. domestic private banking team. McDermott was an associate director at Bear Stearns' private client services group in London. He has also worked at Credit Suisse Group and Merrill Lynch.

Recently, J.P. Morgan Chase & Co. said Bear Stearns' Asia CEO was joining the firm to run its sovereign wealth group. John Moore joined Bear Stearns in 2001 as global head of agency capital markets in New York.

July 8: RBC Wealth Management made four hires. Haitham Karaket, managing director of investment services, and senior investment adviser Barnabus Reynolds join from Bear Stearns. Konstantinos Dedes of Julius Baer becomes a private banker, as does Roberto Islas, who joins from Clariden.

Separately, Jim Wolfe became a managing director and head of U.S. leveraged finance at RBC Capital Markets. Wolfe spent 15 years with Bear Stearns, most recently as senior managing director in the leveraged finance group.

July 3: Highland Capital Management LP brought in Maureen Mitchell as a managing director to head institutional sales globally. Mitchell was a senior managing director at Bear Stearns Asset Management.

July 1: Lazard Middle Market, an indirect subsidiary of Lazard, hired three managing directors. Robert Frost joins from Piper Jaffray & Co. Andrew Samett worked at Bear Stearns and will co-head LMM's distressed advisory and restructuring practice with managing director Andrew Torgove. Scott Smith hails from Wachovia Securities LLC's mergers and acquisitions group and will lead LMM's new office in Charlotte. In addition, managing director Robin Engelson will head the firm's private placement practice. Samett is based in New York, Engelson and Frost work from Minneapolis.

Meanwhile, Chilton Investment Co. LLC said Francie Heller joined the firm as managing director, client relations. Heller joins Chilton from Bear Stearns, where she most recently served as a senior managing director and head of the pension, endowment and foundation services group. She was previously president of MBIA Municipal Investors Service Corp.

Also July 1, Jeffrey Lane will become CEO of Modern Bank. Lane hails from Bear Stearns, where he was chairman and chief executive of the asset management group. Previously, Lane was vice chairman of Lehman Brothers, chairman of Neuberger Berman and vice chairman of Travelers Group and its subsidiary, Smith Barney.

JUNE

June 26: RBC Capital Markets has recruited seven bankers from Bear Stearns. Kathy Costine, Rae Boylan, Nelson Luria, James LaVigne, Marcella Finkel, Evie Wang and Sonal Bose joins RBC's municipal finance healthcare practice. Costine, Boylan and Luria join as managing directors, LaVigne as a director. Finkel and Wang join are vice presidents, and Bose is an associate. Costine had managed Bear Stearns' not-for-profit healthcare practice since 1992. Previously, she headed Kidder Peabody's health and higher education finance group for more than a decade.

June 25: Former Bear Stearns CEO Alan Schwartz was reported on June 2 to be having second thoughts on taking a vice chairman role with J.P. Morgan. The New York Post reported June 25 his other options may include moving to a private equity firm, like KKR. He planned to leave J.P. Morgan at the end of August.

June 24: Thomas Weisel Partners LLC hired Jason Moran and Ralph Sutton as managing directors focused on healthcare. Robert Nabholz was hired as a managing director covering telecommunications services for investment banking. Moran and Sutton join from Piper Jaffray & Co. and Bear Stearns, respectively. Moran works from San Francisco, and Sutton is in New York. New York-based Nabholz was a senior managing director at Bear Stearns.

June 20: John Andrews is now a managing director at CIT Commercial & Industrial, providing financial advisory and capital-raising services to industrial companies in the chemicals, plastics and materials sectors. Andrews was previously a managing director in the investment banking group at Bear Stearns.

June 17: Jefferies expanded its energy investment banking group, Jefferies Randall & Dewey. Former co-president Ralph Eads III was named chairman of the group. Eads also became a vice chairman of Jefferies. Stephen Straty and David Rockecharlie were named group co-heads. Straty joins Jefferies following 17 years at Bear Stearns.

Meanwhile, Philip Cedar came on as a partner in the New York office of Kirkpatrick & Lockhart Preston Gates Ellis LLP. Cedar joined the financial services practice from Bear Stearns, where he was a senior managing director in the legal department and a group practice leader for the mortgage and asset-backed securities division.

June 16: Deutsche Bank Securities Inc. said Thomas Widener joined the firm's global banking division in New York as a managing director and vice chairman in the natural resources group. Widener joined from Bear Stearns, where he was a senior managing director and global head of the power and utilities group. He also oversaw the firm's alternative energy investment banking activities. Before Bear, he spent more than 20 years in investment banking at Merrill Lynch.

Separately in New York, Deutsche Bank Private Wealth Management said George Zahringer III joined the firm as a managing director and client adviser. He was previously a senior managing director with Bear Stearns.

June 13: In New York, Barclays Capital expanded its healthcare investment banking team. The senior members were W. Patrick McMullan III, who became a managing director and head of healthcare coverage; and managing directors Ben Adams, Frank Williams and Kevin Clarke. McMullan joined from Bear Stearns, where he was a senior managing director and co-head of healthcare investment banking. Before Bear Stearns, McMullan was co-head of the global healthcare group at Credit Suisse Group. Adams was a senior managing director in Bear's healthcare group, specializing in debt and equity financings. Williams held the same title on that team. Clarke was most recently chief financial officer of Kos Pharmaceuticals Inc., which Abbott Laboratories acquired. Previously, Clarke spent 14 years at Bear Stearns, most recently as a senior managing director and head of healthcare mergers and acquisitions.

Meanwhile, healthcare investment bank Leerink Swann LLC brought in Frederick Wise and Jason Gurda from Bear. Wise is a managing director covering the medical supplies and devices sector, and Gurda is a director covering the healthcare facilities industry. Wise was previously a senior managing director with Bear Stearns, where he worked for 22 years. Gurda was an equity research analyst there for the previous six years.

Elsewhere, Ladenburg Thalmann Financial Services Inc. expanded its equity research coverage into the industrial manufacturing and water sectors, adding R. Scott Graham as a managing director in New York. Graham joined from Bear, where he was a senior equity analyst and managing director. Ladenburg also added Brett Kauffman as chief financial officer in April. (See more below.)

Meanwhile, Merrill Lynch hired John Tyers as president of Broadcort, a provider of clearing services to U.S. broker-dealers. Most recently, Tyers was a senior managing director and co-head of Bear Stearns Broker Dealer and Investment Advisor Services.

June 12: Moelis & Co. hired Greg Shaia as a managing director in New York to lead coverage in the consumer and retail sector. Shaia joins from Bear Stearns, where he most recently was head of retail and apparel investment banking. In 2004, Bear poached Shaia from Citigroup, where he was a managing director in the consumer and healthcare group, and also focused on retail and apparel. Before that, he worked at Deutsche Bank Alex.Brown and its predecessors.

The week before, Moelis took on Ken Viellieu as a managing director and head of its Chicago office. Viellieu was previously with Bear, which he joined in 2001 as a senior managing director and was head of Midwest investment banking. Before that, Viellieu was a managing director and co-head of Midwest investment banking at Donaldson, Lufkin & Jenrette Inc.

Meanwhile, A.J. Mediratta, who spent 10 years with Bear Stearns, was hired by hedge fund Greylock Capital Management LLC as a senior managing director. Mediratta was head of the international debt capital markets group at Bear Stearns. Also, Andrey Popel, Anthony Bitz and Wei Yeh Sun, all of whom worked for Mediratta, signed on with Greylock.

Broadpoint Capital, a broker-dealer subsidiary of Broadpoint Securities, said a team of six investment-grade fixed-income sales professionals led by two Bear Stearns veterans joined the firm's debt capital markets division. Richard Crescenzo and Douglas Scales came on as managing directors and co-heads of the new investment-grade sales department. Crescenzo spent 14 years at Bear Stearns, most recently as a senior managing director in its fixed-income division. Joining Crescenzo and Scales are Robert Arslanian, Renee Rainero, Michael Leit and Meredith Stabile.

June 11: Bank of America recruited David Glaser as its chairman of global mergers and acquisitions. Glaser was co-head of investment banking for Bear Stearns, where he spent 23 years. Other senior staff to head to BofA from Bear included Davies Beller, managing director in the media unit; Adam Blackman, co-head of business and technology services; Steven Lipman, managing director in financial sponsors; and Fred McConkey, a managing director in healthcare and financial sponsors. Also, Gregg Nabhan from Morgan Stanley became chairman of equity capital markets, and Phil Barnett was hired from MS as head of BofA's financial institutions unit. Earlier, Cary Thompson joined from Bear to head corporate finance on the West Coast.

Tudor Investment Corp. tapped Gregory Hanley and Alan Mintz to establish a new investment management business focused on credit-related strategies. Both joined Tudor from Bear Stearns, where they were senior managing directors and co-heads of the distressed debt group. Hanley, who joined Bear in 1985, also served as co-head of the high-yield trading group. Also joining as senior members of the team were Mitchell Sussman, Eric Friel and Howard Norowitz.

June 10: Credit Suisse Group said Spencer Wang joined its equity research group as a managing director and senior media and Internet analyst, based in New York and reporting to Lara Warner, head of U.S. equity research. Wang joined CS from Bear, where he was an entertainment and cable/satellite TV senior analyst. He also worked at J.P. Morgan.

June 9: Thomas Weisel hired Jon Fredericks as a managing director on the Canadian trading desk, Chris Richards as a managing director on the New York trading desk and Raj Denhoy as a director in the research department to lead coverage in the medical devices sector. Fredericks joined from Merrill Lynch, and Richards came from Banc of America Securities LLC. Denhoy held senior research positions at Bear Stearns, Piper Jaffray and J.P. Morgan.

June 5: Evercore Partners Inc. hired Daniel Celentano, the former head of Bear Stearns' restructuring practice, to join the boutique investment bank's restructuring team. Celentano, formerly a senior managing director at Bear Stearns, was given the same position at Evercore. He joined the team's current leaders, William Repko and David Ying, in a business that is expected to flourish as more companies struggle through the credit crunch.

New York-based Evercore noted in its announcement that Celentano has a wealth of experience advising a number of high-profile clients on corporate restructuring including: General Motors Corp. in the Delphi Corp. Chapter 11 case; Time Warner Cable in its acquisition of the assets of Adelphia while it was in Chapter 11; Andersen Worldwide in the restructuring and the distressed sale of Andersen Business Consulting to KPMG Consulting to form BearingPoint; and Zale Corp. and NVR LP in their respective Chapter 11 cases. - Donna Block

Meanwhile, Bear Stearns Merchant Banking, the former Bear private equity arm with an enviable track record, officially declared independence from its former parent and said it would move its Manhattan headquarters and change its name. It was symbolic more than anything; BSMB already operated largely independently from Bear.

Elsewhere, Deutsche Bank Securities Inc. tapped Mark Schoenebaum as a managing director and senior research analyst in equity company research within the global markets division in New York. Schoenebaum joined from Bear Stearns, where he was a senior managing director covering biotechnology in equity research. Previously, he was co-director of healthcare equity research at Alexandra Investment Management and worked at Piper Jaffray. Also, Robyn Karnauskas joined DB as a vice president and research analyst in equity company research. Karnauskas was previously an associate director at Bear covering biotech.

Meanwhile, Michael Solender was named Washington Mutual Inc.'s executive vice president and chief legal officer. He would also join the firm's executive committee and succeed Stewart Landefeld, interim CLO, who returned to private practice at Perkins Coie LLP. Solender was general counsel with Bear Stearns. Before that, he was a partner with Arnold & Porter LLP. Previously, Solender was general counsel of the U.S. Consumer Product Safety Commission. Solender reports to WaMu CEO Kerry Killinger, who relinquished his role as chairman to independent director Stephen Frank.

June 3: Merrill Lynch tapped Fares Noujaim as president of the firm's business in the Middle East and North Africa, and as global head of sovereign wealth funds. Noujaim was hired to work from the Middle East and New York, reporting to Merrill president and chief operating officer Gregory Fleming. Noujaim moved to Merrill from Bear Stearns, where he was vice chairman of the board and a member of the president's advisory committee. Noujaim joined Bear in 1987 from Goldman Sachs.

June 2: Meanwhile, former Bear Stearns CEO Alan Schwartz was reportedly having second thoughts on taking a vice chairman role with J.P. Morgan, in light of so many Bear employees losing their jobs.

MAY

May 21: Dahlman Rose & Co. LLC appointed Tony Rizzuto as a managing director of equity research, focusing on the global metals and mining sector. Rizzuto was a senior managing director at Bear Stearns, where he has worked since 1993. Also, former Bear associate analysts Daniel Whalen and Anthony Young join the team with Rizzuto.

May 20: Energy investment bank Pritchard Capital Partners added Mark Brown as a senior analyst in the equity research group, covering the oil-field services sector. Brown joined from Bear Stearns.

May 14: In Natsource LLC's New York office, John Geissinger, a senior executive of Bear Stearns Asset Management Inc., was named chief risk officer; Frederick Shaw joined as chief compliance officer and Evan Kerr became head of marketing and product development for Natsource Asset Management LLC. Shaw and Kerr also worked at BSAM.

ONE LUCKY GUY

May 12: Shelly Stein, who ran Bear's investment banking business in Dallas, left for Merrill Lynch a month before Bear collapsed in March to run Merrill's new Dallas investment banking office. Stein had been at Bear since 1986, and owed his his new job to John Thain, the Goldman Sachs veteran who became Merrill Lynch's CEO in December. The two met in the late 1970s, when Thain was an associate at Goldman and Stein was an associate at Hughes & Luce LLP and worked together on deals. Stein says Thain tried to lure him to Goldman several times over the years, but he was happy at Bear. Thain called Stein again when he landed at Merrill after his stint at the New York Stock Exchange.

Stein built Bear's Dallas team to 37 bankers at its peak and ran various regional offices. His clients include Texas financier Tom Hicks, Glazer's Wholesale Drug Co., Sabre Holdings Corp., Brinker International Inc. and Men's Wearhouse Inc. Stein has already recruited to Merrill former Bear bankers Chris Carter, an associate, and Thomas Greenlee, a director. - Amy Wu

ANOTHER BEAR REFUGEE

May 12: Jefferies & Co., a subsidiary of Jefferies Group, named former Bear banker David Baxt as head of the firm's aerospace and defense investment banking effort, Jefferies Quarterdeck LLC, replacing co-heads Michael Richter and Bill Farmer, who have left the firm.

Chris Kanoff, co-head of investment banking at Jefferies, said his firm was on the phone to Baxt the moment J.P. Morgan took over Bear. "They were one of the largest competitors," he says of Bear. Baxt recently advised defense company Cobham plc in its $416 million acquisition of Sparta Inc. and sat across the table from Jefferies bankers in Esterline Corp.'s $335 million purchase of CMC Electronics Inc. last year. Baxt will not start at Jefferies until August, when his gardening leave ends.. - A.W. and Lisa Lee

May 9: Ross Sakamoto joined DB Advisors, the asset management division of Deutsche Bank, as a director and senior product specialist for quantitative strategies. He came in from Bear's U.S. program sales and trading team, where he was a managing director. Sakamoto also worked at Symphony Asset Management and Barclays Global Investors. Based in San Francisco, he reports to managing director James Norman, global head of quantitative product specialists.

APRIL

April 29: Residential Capital LLC, GMAC LLC's mortgage loan business, named Thomas Marano as its nonexecutive chairman. Marano, former senior managing director and head of mortgage and asset-backed securities at Bear Stearns, replaces Michael Rossi, who resigned as chairman in March, citing medical reasons. ResCap also said CFO James Young and Joshua Weintraub, a former senior managing director with Bear Stearns' global mortgage operations, were elected to its board.

SEEING THE FUTURE AT J.P. MORGAN

April 28: After bailing out Bear Stearns, J.P. Morgan announced several executive changes.

Bruce Lisman, former co-head of global equities at Bear Stearns, was named chairman of global equities at J.P. Morgan. Steven Meyer, co-head of equity at Bear Stearns, was made deputy head of global cash equity and prime services. Louis Lebedin was tapped to run the equity prime brokerage business. Nick Andrews of J.P. Morgan was named head of the equities business in Asia and emerging markets, while Deepak Gulati was selected to run global equity proprietary trading. Additionally, Richard Berliand, who headed J.P. Morgan's futures, options and cash units, was named global head of cash equities. David Herzberg, head of global equity derivatives at J.P. Morgan, was also tapped to cover structured products. And Andrea Angelone was made head of global derivatives financing.

Earlier, the firm announced several other moves. Co-heads of investment banking Steve Black and Bill Winters, working with Bear's Schwartz, said Don McCree, would become an executive vice president for treasury, corporate finance and corporate mergers and acquisitions. Mike Ashworth was named firmwide head of global technology infrastructure.

Doug Braunstein was named head of investment banking and origination in the Americas and continue to be responsible for M&A globally. Equity and debt capital markets and syndicated and leveraged finance now report to him. Jeff Urwin took over as head of investment banking coverage in the Americas, reporting to Braunstein.

Klaus Diederichs was made head of EMEA investment banking and origination, and Gaby Abdelnour was named CEO of Asia Pacific across the J.P. Morgan lines of business and would continue to be responsible for investment banking and origination there.

Jeff Mayer was named vice chairman of the investment bank, focused on global markets. Daniel Pinto would head global emerging markets and global credit trading and syndicate. Carlos Hernandez was tapped to head global equities, while Tony Best was picked to run global sales. Craig Overlander was named vice chairman of the investment bank, focused on investor clients.

Blythe Masters became head of global commodities. Matt Zames took over global rates, FX and tax-exempt capital markets/municipals. Venu Thirunamachandran was named head of global fixed-income hybrids and exotics, and Bill King and Mike Nierenberg were named co-head global securitized products. Bob Case was brought in as head of global principal investment management.

John Hogan was made chief risk officer, and Brian Sankey global head of credit risk and deputy CRO. Nick O'Donohoe was tapped to run global research.

Peter Cherasia was made head of global technology and operations and real estate. Paul Compton became CFO and head of global finance and business management. Diane Genova was named general counsel.

April 18: In Hong Kong, Credit Suisse hired two senior investment bankers for its greater China business. David Cheng joined as a managing director and head of corporate finance, Greater China. Quincy Hui joined as a managing director for Hong Kong coverage. Cheng arrived from Bear Stearns, where he was a senior managing director and head of corporate finance in Asia. Before that, he was a managing director and head of investment banking at CITIC Capital and Bank of China International.

April 17: Citigroup Inc. added Thomas Flexner to its institutional clients group as global head of real estate, reporting to John Havens, CEO of Citi Institutional Clients Group. He was also named to the management committee. Flexner was most recently a vice chairman with Bear Stearns, which he joined in 1993 from Eastdil Realty Inc., where he was executive vice president and co-head of investment banking.

April 15: Robert W. Baird & Co. enlisted Jeffrey Seaman as a managing director in its financial sponsor investment banking team in Chicago. Previously, Seaman was a senior managing director in the financial sponsor group at Bear. He also spent 15 years with Lehman Brothers.

THE JUST-IN-TIMERS

April 4: Brett Kaufman, a former Bear managing director in New York, headed to Miami. Kaufman started at Ladenburg Thalmann as chief financial officer, just two weeks after Bear collapsed on March 16. "It's pretty good timing," Kaufman said, who was most recently director of financial planning and analysis in Bear Stearns' controllers group.

A high-profile executive to benefit from good timing, of course, is Louis Friedman, Bear's former vice chairman of investment banking and global chairman of M&A, who announced plans to join New York-based hedge fund P. Schoenfeld Asset Management LLC as president and managing partner on March 6.

Also in March, David Strumeyer, 42, Bear's COO of legal and compliance, joined Weil, Gotshal & Manges LLP as executive director, heading administration and operations globally. "I don't have what they call a trader's stomach, and the ups and downs would impact me personally," Strumeyer said of his last few months at Bear. "I started saying there's nothing wrong with going back to the stability of a law firm." - A.W.

A LITTLE ADVICE?

In late March, The Deal spoke with former global head of staffing at Bear Tony Brown, who had since moved to the Whitney Group as an executive recruiter. Brown talked about what he was seeing, recruiting-wise in light of Bear's fall, and he offered up some advice.

March 20: J.P. Morgan Chase was said to be giving bonuses to Bear bankers that decide to stay through the takeover, according to Reuters. - Maria Woehr

March 25: Jamie Dimon, J.P. Morgan's chief executive, reportedly asked Morgan Stanley, Merrill Lynch and Credit Suisse management to "hold off" from hiring Bear Stearns Cos.' financial advisers, according to The Huffington Post and Dow Jones. - M.W.

March 28: A U.S. federal judge temporarily blocked Douglas Sharon, a then-executive director of Bear's private client services group in Boston, from leaving his position to start in a position at Morgan Stanley because he failed to give 90-days notice, Reuters reported. Sharon, a 20-year Bear veteran was said to have copied legal documents and was recruiting clients and colleagues to follow him. Sharon quit on March 17, 2008, before J.P. Morgan increased its bid for Bear to $10 from $2 per share. -M.W.

CHANGING OF THE GUARD

Jan. 9: Jimmy Cayne's ouster as Bear chief executive signaled a power shift on Wall Street, The Deal's editor in chief, Robert Teitelman explained: "The credit crunch has done a lot of damage on Wall Street to CEO ranks, but the real destruction is taking place in a group that had been rising politically since the '90s: the trading and fixed-income crowd." Cayne stayed on as chairman while Schwartz took over as CEO.

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