Alan Schwartz

Alan D. Schwartz was the last CEO and chairman of Bear Stearns before its acquisition by JPMorgan Chase & Co., having succeeded James 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 on January 8 2008 when the stock (BSC) traded at slightly over $75 per share. Within a week of its merger with JPMorgan Chase on March 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.

Compensation

In 2007, he earned cash compensation of $35,734,422, which included a $16,237,150 bonus.

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's Cincinnati Reds, he never played a game due to an injured elbow. He is currently the chairman of the Board of Visitors at the Fuqua School of Business at Duke.

External links

• New York Magazine
• Forbes magazine article
• Portfolio.com
• Lustgarten Foundation site
• Bizjournals site

References