Asides

Bear-JP Morgan Integration: Oh the Irony

By The Prince ⋅ April 5, 2008 ⋅  Email This Post ⋅  Print This Post ⋅ Post a comment

5 April 2008 - "Jeff Mayer, a former member of Bear’s five-person executive committee and a co-head of fixed income, was named vice chairman of J.P. Morgan’s investment bank, with a focus on global risk. J.P. Morgan also named Craig Overlander, the other fixed-income co-head, as a vice chairman to focus on global clients.

Mike Nierenberg, who ran global rates and foreign exchange at Bear, was named co-head of global securitized products with Bill King, who previously held the position alone at J.P. Morgan." - WSJ "J.P. Morgan Integrates Bear Senior Managers"

The Prince: Does anyone else see the irony/stupidity of giving the co-head of Bear’s fixed income division the job of focusing on global risk at JP Morgan?  Really?  Also, why is JP Morgan moving anyone from Bear’s securitized products to their own securitized products group.  Everyone at BS working in that group should be fired.  Just another example that on Wall Street people bounce back so fast it almost defies belief.