Tuesday, 16 September 2014
Last updated 1 hour ago
Aug 6 2007 | 8:58am ET
If sub-prime had a face at Bear Stearns, it was Warren Spector. And as the Wall Street bank continues to suffer at the hands of the declining sub-prime mortgage market, it has cut ties with the now-former firm co-president, who resigned yesterday.
Spector, who was also seen as a possible successor to CEO James Cayne, oversaw both Bear’s fixed-income business—the firm is the second-largest underwriter of U.S. mortgage-backed securities—and its asset management unit, home to Bear’s two now-bankrupt credit hedge funds. Bear, buffeted by sub-prime woes, has seen its share price drop by a third this year.
Spector’s former co-president, Alan Schwartz, was named sole president, while CFO Samuel Molinaro succeeds him as chief operating officer. Jeffrey Mayer, co-head of fixed-income, takes Spector’s place on the firm’s executive committee.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?