Tuesday, 31 May 2016
Last updated 3 days ago
Jun 2 2009 | 1:10am ET
The final CEO of now-defunct Bear Stearns has a new job with alternative investments firm Guggenheim Partners.
Alan Schwartz will join the New York- and Chicago-based firm as executive chairman later this month, The Wall Street Journal reports. While his primary focus will be on building Guggenheim’s banking and trading businesses, he will also work in increasing the size of its investment-management division, which has $100 billion in assets.
“Fate has dealt me an opportunity to start from scratch,” Schwartz told the Journal.
Schwartz served as CEO of Bear during its final months, succeeding James Cayne just before the firm ran into the liquidity troubles that forced it into bankruptcy.