Bear Sterns Cos. (BSC) May Fire its President
Bear Stearns Cos. (NYSE:BSC - News), whose shares slumped on Friday, is preparing to oust Warren Spector, one of its two presidents and its co-chief operating officer, the Wall Street Journal reported on Saturday.
A Bear Stearns spokesman did not immediately return a phone call seeking comment.
Bear Stearns' board is due to meet on Monday to consider the departure of Spector, who heads up its stock and bond trading operations, the paper said, citing a person familiar with the situation.
Spector, 49, had widely been seen as a candidate to become the firm's next chief executive, the Journal said.
Spector, who has been at the firm since 1983, oversees Bear's entire capital markets business, which includes monitoring stock and bond trading, the paper said.
Although he has taken a public role at the firm in the past, making presentations to analysts and investors on at least two occasions earlier this year, Spector did not participate in a conference call Bear Stearns held on Friday.
A Bear Stearns spokesman did not immediately return a phone call seeking comment.
Bear Stearns' board is due to meet on Monday to consider the departure of Spector, who heads up its stock and bond trading operations, the paper said, citing a person familiar with the situation.
Spector, 49, had widely been seen as a candidate to become the firm's next chief executive, the Journal said.
Spector, who has been at the firm since 1983, oversees Bear's entire capital markets business, which includes monitoring stock and bond trading, the paper said.
Although he has taken a public role at the firm in the past, making presentations to analysts and investors on at least two occasions earlier this year, Spector did not participate in a conference call Bear Stearns held on Friday.
Labels: Bear Stearns Companies Inc., BSC, Warren Spector
posted by Stock Administrator @ 4:02 PM
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