J.P. Morgan’s Carlos Hernandez Gets the Pick of the Litter

One of the managing directors from Bear Stearns found it "galling" Jamie Dimon came into their house last week describing the recent business combination as a merger.

Dimon's attempts at diplomacy did not sit very well with some of the assembled bankers, who are well acquainted with Jamie's Type "A" personality. But lesser known J.P. Morgan executives will be making many of the tough decisions this week. And Bear's stunned employees are facing the the unemployment line in the worst hiring environment on Wall Street since 2002.

Fortunately for Bear's equity professionals their potential new Rabbi is not quite as difficult as Dimon:

Carlos Hernandez is head of the Investment Bank’s Global Equities business and a member of the firm’s Executive Committee and Corporate Diversity Council.

Most recently, Mr. Hernandez managed the firm’s Capital Markets, Origination and Distribution business for the Americas. Prior to that, he managed the Institutional Equities business in the Americas and was previously the head of Global Equity Capital Markets. Before joining the Equities division, he was JPMorgan’s regional executive for Latin America.

Since joining JPMorgan in 1986, Mr. Hernandez has worked on a wide array of advisory and financing transactions, across various product groups and regions, representing privately held and multinational companies and governments.

In 2004, Mr. Hernandez was named one of the 100 most influential Hispanics in the U.S. by Hispanic Business magazine. He serves on the board of directors of Inroads, a non-profit organization that places talented minority youth in business and industry and help prepare them for corporate and community leadership. He also serves on the board of the Securities Industries Association.

Carlos Hernandez holds an M.B.A. from Columbia University and a B.S. in Business from the State University of New York. Bio

Hernandez is a natural leader, a trait seemingly missing in the corner offices at Bear of late.

The coming week should provide plenty of stomach churning drama for Bear employees waiting to find out if they will still have a job.

Particularly the dozens of employees that have recently left J.P. Morgan for Bear Stearns; they will find out if they can truly go home again. Bear analyst Spencer Wang is one; Wang left J.P. Morgan for Bear after sitting out a three month garden leave that was mandated by J.P. Morgan roughly two years ago.

Spencer’s reaction to hearing the merger news had to be a priceless moment to observe, and if he needs to grovel he can always chat up Carlos in the gym at 277 Park. The intrigue over careers is going full tilt as we speak, and while most folks are not in Spencer’s unique position, it should be a dramatic all the same.

They say everything happens for a reason, as Spencer and the rest of the crew at 383 Madison will soon find out as they embark on a new, and in some cases, familiar, adventure.

Good luck to Spencer and the rest of the Bear employees. With chaos the order of they day, the rest of Wall Street might need to be reminded of the old adage:

Never burn your bridges.

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The content contained represent the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author.

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