Bear Stearns’ James Cayne Steps Down

by Admin on January 9, 2008

Bear Stearns chief executive, James Cayne, stepped down. This has been widely expected. Surprising, though, do you think since he is staying on as chairman, some people were calling for him to be ousted after the problems that they had over the summer. He is being succeeded by Alan Schwartz. Alan is considered collegial, reaching out to various clients, part of what you have to do as chief executive. He has been co-president since 2001 and took over an investment bank.