Bear's former CEO may be headed to Goldman - Fortune
NEW YORK, April 27 (Reuters) - Alan Schwartz, who took the role as chief executive of Bear Stearns just two months before the 85-year-old firm collapsed in January 2008, may be headed to Goldman Sachs Group Inc (GS.N: Cotización), Fortune magazine said on Monday.
Citing a source familiar with the negotiations going on between Goldman and Schwartz, Fortune said the chances are about "50-50" that Schwartz will soon be a partner-level managing director at Goldman. Goldman has about 400 managing directors out of its 27,898 employees worldwide, the magazine said.
Schwartz's responsibilities may include stoking deals in the media, telecom and healthcare sectors and being an all-around senior banker and executive, Fortune said.
A spokesman for Goldman Sachs declined to comment. Schwartz did not respond to an e-mail by Fortune.
For about a year, Schwartz has been working from an a suite of offices that are part of Rothschild North America, in Manhattan, keeping in touch with his clients, Fortune said.
Schwartz, 58, also could help fill the banking holes left by the recent departures of Bryan Trott, Warren Buffett's favorite banker, and Jon Winkelried, who had been a co-president at the firm along with Gary Cohn, Fortune said.
The magazine said other firms that Schwartz may have spoken with are Rothschild North America, as well as the usual suspects JPMorgan Chase & Co (JPM.N: Cotización), Morgan Stanley (MS.N: Cotización) and KKR Financial Holdings LLC KFN.N. (Reporting by Ilaina Jonas; Editing by Anshuman Daga)
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