Ball Buster Mintz Lands at Tudor Investment Corp.
Alan Mintz was one of the few people to bust Jimmy Cayne’s balls.
At least besides me. I began calling for his head in August, a fact lost on Big Picture readers who think I am soft on Wall Street CEO’s.
Mintz was late, but at least he did something:
Twelve hours after agreeing to sell Bear Stearns Cos. for $2 a share, Alan Schwartz wearily made his way to the company gym for a much-needed workout.
It was 6:45 a.m., March 17, and Bear Stearns’s chief executive had slept little since hammering out the ugly details of his fire-sale deal with J.P. Morgan Chase & Co.
When Mr. Schwartz, already dressed in his business suit, trudged into the locker room, Alan Mintz, still in his sweaty gym clothes, made a beeline for the boss.
“How could this happen to 14,000 employees?” demanded the 46-year-old senior trader, thrusting his face uncomfortably close to Mr. Schwartz’s. “Look in my eyes, and tell me how this happened!” WSJ
Like many of the big swinging dicks at Bear, Mintz is landing on his feet:
Tudor Investment Corp., the $18 billion hedge-fund manager founded by Paul Tudor Jones, hired former Bear Stearns Cos. executives Gregory Hanley and Alan Mintz to establish a credit-related investment unit.
Hanley, 46, and Mintz, 47, were senior managing directors and co-heads of Bear Stearns’s distressed-debt group, Greenwich, Connecticut-based Tudor said in a statement today. Their unit will operate within Tudor and could be spun off as an independent business, the statement said.
Mitchell Sussman, Eric Friel and Howard Norowitz, all formerly with Bear Stearns, are also joining Tudor as senior members of the new credit team. Bear Stearns, once the fifth- biggest U.S. securities firm, was acquired by JPMorgan Chase & Co. on June 2. Bear Stearns faced bankruptcy and liquidation after two of its hedge funds failed in the collapse of the U.S. subprime-mortgage market. Bloomberg
Somehow i don’t think Jamie Dimon helped Mintz land that gig, although his PR flacks might try to take credit for it.
Tudor Hires Former Heads of Bear Stearns Debt Group
Bloomberg
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