- Alan Schwartz
Alan D. Schwartz was the last CEO and
chairman ofBear Stearns before its acquisition byJPMorgan Chase & Co. , having succeededJames E. Cayne . Schwartz became sole president in August 2007.History at Bear Stearns
Alan Schwartz joined Bear Stearns in 1976. He became executive vice president and head of the Investment Banking Division in 1985.
He became Co-President and Co-COO on
June 25 2001 . He became sole President and COO after Warren Spector was forced to resign. Schwartz took over as CEO onJanuary 8 2008 when the stock (BSC) traded at slightly over $75 per share. Within a week of its merger withJPMorgan Chase onMarch 16 2008 , BSC stock drastically declined to $5.33 per share.Schwartz negotiated the last minute deal to sell to
JPMorgan Chase , and he was angrily confronted by a senior trader for this at the company gym. [ [http://blogs.wsj.com/juggle/2008/05/28/the-company-gym-sweating-next-to-the-boss/] ] [ [http://online.wsj.com/article/SB121184521826521301.html?mod=hps_us_pageone] ]Compensation
In 2007, he earned cash compensation of $35,734,422, which included a $16,237,150 bonus. [ [http://www.forbes.com/finance/mktguideapps/personinfo/FromPersonIdPersonTearsheet.jhtml?passedPersonId=939962 Alan D. Schwartz Profile] "Forbes.com",
2008-03-19 , Retrieved on2008-03-21 .]Background
Schwartz is a 1972 graduate of
Duke University . At Duke, he pitched on the varsity baseball team as a scholarship athlete, making the ACC academic honor roll three times. Though he was drafted by the MLB'sCincinnati Reds , he never played a game due to an injured elbow. He is currently the chairman of the Board of Visitors at theFuqua School of Business at Duke.External links
* [http://nymag.com/daily/intel/2008/01/you_can_just_call_alan_d_schwa.html "New York Magazine"]
* [http://www.forbes.com/finance/mktguideapps/personinfo/FromPersonIdPersonTearsheet.jhtml?passedPersonId=939962 Forbes magazine article]
* [http://www.portfolio.com/resources/executive-profiles/Alan-D-Schwartz-5217 Portfolio.com]
* [http://www.lustgartenfoundation.org/LUS/Content/CDA/BODBiosDetail.jsp?NavId=1&OwnerId=0&ContentId=230 Lustgarten Foundation site]
* [http://www.bizjournals.com/triangle/stories/2008/01/07/daily21.html Bizjournals site]References
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