Charlie Gasparino reports that former Bear CEO Alan “We’ve Got Liquidity Coming Out Of Every Orifice” Schwartz will leave Bearpont Morgan Stearns at the end of the summer. Schwartz has apparently been “working on some deals” at Bearpont, but decided–as did senior executives at the firm– that the fit wasn’t quite right. According to Gasparino, Amphibious Al has not yet decided what to do next, though a small boutique firm, major bank (please say Lehman), and private equity shop are all in the hopper.
Earlier: Alan Schwartz Declining Offer From JPMorgan Cayne?
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Mayo!
awkward turtle…
More important than Gasparino, what can be done to get rid of that smug jackass Dennis Neal? (spelling?)
kneale
Schwartz is a clown. In the Bear Stearns made for TNT movie, he is gonna be played by the kid from Jerry Maguire.
Schwartz was a man caught in a really bad position. He had never wanted to be CEO and had been CEO less than three months when the run hit. The squeeze play Bernanke and Paulson put on Schwartz about the Bear Stearns stock price will be long remembered in the annals of regulatory overkill.
I think Schwartz was sincere about going to JP Morgan to monitor how fairly former Bear Stearns employees were being treated, but I never expected him to stay.
Good luck, Mr. Schwartz.