New York, NY – On Friday, May 30th, Bear Stearns issued what was its last equity research report. In that report, the firm acknowledged that, due to the merger with JP Morgan Chase, it was ceasing all of its research coverage. Industry sources indicate that only one in five Bear Stearns senior research analysts were offered similar positions at JP Morgan. As a result of this, a large number of Bear Stearns 165 senior research analysts have become free agents.
A few of the notable Bear Stearns analysts that were not offered positions at JP Morgan include PC hardware analyst Andy Neff, enterprise software analyst John DiFucci, video game software analyst Edward Urban, semiconductor analyst Gurinder Kalra, computer services analyst James Kissane; electronics manufacturing analyst Kevin Kessel; wireless equipment analyst Philip Cusick; and Internet analyst Robert Peck.
However, a number of Bear Stearns analysts have already found new homes at competing sell-side investment banks. A few of these include:
|
Analyst Name |
Sector Coverage |
New Firm |
|
Anthony Rizzuto |
Metals |
Dahlman Rose & Co. |
|
Daniel Whalen |
Metals |
Dahlman Rose & Co. |
|
Anthony Young |
Metals |
Dahlman Rose & Co. |
|
R. Scott Graham |
Industrial Manufacturing |
Ladenburg Thalmann |
|
Steven Wang |
Media Analyst |
Credit Suisse |
|
Frederick Wise |
Medical Devices |
Leerink Swann |
|
Jason Gurda |
Healthcare Facilities |
Leerink Swann |
|
Danielle Antalffy |
Healthcare |
Leerink Swann |
|
Miroslava Minkova |
Healthcare |
Leerink Swann |
|
Mark Schoenebaum |
Biotechnology |
Deutsche Bank |
|
Robyn Karnauskas |
Biotechnology |
Deutsche Bank |
|
Raj Denhoy |
Healthcare |
Thomas Weisel |
Of course, the buy-side’s robust appetite for good analytical talent should also come into play, with larger mutual funds and hedge funds likely to hire some of Bear Stearns more experienced analysts.
In addition, a limited number of Bear Stearns analysts might decide to “go it alone” and open up their own independent research business. Ed Wolfe, a recent Institutional Investor rated Bear Stearns analyst, opened Wolfe Research, an independent research boutique that produces fundamental research on the transportation sector. Early indications suggest that Wolfe’s new research business is off to an auspiscious start.